Rising Gas Prices and Your Paycheck

Rising Gas Prices and Your Paycheck

It’s official: Russian oil, natural gas, and coal are all canceled in the US.  Russian oil only makes up about 3% of US oil imports… but since other countries are also canceling Russian energy imports, the price on everything from ham to socks is also going up.

Global energy prices are ramping up faster than a Uhaul leaving California. Oil prices have jumped to their highest since 2008, the average cost of gas is over $4/gallon, and that number could go as high as $7/gallon this year! 

So, what’s a hardworking Paycheck to do about this situation?

Here’s Five Fast Facts to help you save at the pump:

  1. 🔍🤔 Everyone Hates Mondays… Unless You’re Getting Gas - Statistically speaking, Monday is the day with the cheapest gas prices! The next best day to fuel up is Sunday. 
  2. 💵👑Cash is King -  You can usually save 5 to 10 cents a gallon when you pay in cash, which is about $1 saved for each tank fill-up.  Turn your nose up at gas stations that charge a surcharge for using a credit card, because they also tend to charge higher prices altogether and no one wants to get ripped off.
  3. ⛽🏬Where’s the NearestWarehouse Store? - A membership at Costco, Sam's Club, Walmart, or Kroger gets you an immediate discount on gas. Even if you don’t tend to bulk buy… the savings on gas these days may well be worth the cost of the membership.
  4. 📱👀There’s an App for That - Gas prices can vary as much as 10 cents to 15 cents a gallon even within a few blocks or miles. Use apps such as GasBuddy, Gas Guru and the AAA Mobile App to find the lowest gas prices wherever you are. You can also check Waze for prices in real time!
  5. 💳🤲Loyalty Pays - Nearly all gas stations have a loyalty program. For instance, 7-Eleven has a program that gives you a discount of 11 cents a gallon for the first seven fill-ups on all fuel grades. You can often link those rewards accounts to a gas card for even more rewards that earn points or cash back on gas purchases. 

🔥Bottom line: Gas prices are only going to go up so do whatever you can to save your Paycheck. Oh, and lastly, give that lead foot a break - it costs an extra  $0.23 per gallon for every 5 mph you drive over 50mph. So, control your inner Sammy Haggar and make sure to keep it at 55! 

If you like our tips or have some of your own let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!

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