Drivers won’t get any relief from gas expenses as prices are set to rise. (iStock)
Gas prices rose again this week and aren’t likely to drop as temperatures heat up and manufacturers switch to more expensive summer blend fuel, according to the latest AAA report.
The national average cost for a gallon of gas increased to $3.41, a slight two-cent increase from the previous week. But oil costs keep rising, crossing the $80 a barrel mark, while demand keeps growing. These factors alone push up what drivers pay at the pump.
The traditional switch to a more expensive summer fuel blend tends to increase pump prices by 10 to 15 cents, which means drivers are looking at a recipe for expensive gas prices this summer, according to AAA.
“This is the time of year we normally see pump prices start to rise,” AAA spokesperson Andrew Gross said. “And while prices have been rather pokey so far, they should begin to accelerate and move higher very soon.”
If you’re trying to lower your overall auto costs, you could consider switching auto insurance providers. You can visit Credible to compare quotes from different companies without affecting your credit score.
KNOWING HOW INSURANCE RATES ARE CALCULATED COULD SAVE DRIVERS MONEY: SURVEY
These states saw the biggest changes in gas prices
Gas costs for motorists nationwide fluctuated, with some states tallying higher averages than others. These states saw the most significant swings in pump prices:
- Texas (+10 cents)
- Alaska (+10 cents)
- Oregon (+9 cents)
- Washington, D.C. (+9 cents)
- Utah (+8 cents)
- New Mexico (+8 cents)
- Washington (+8 cents)
- Montana (+7 cents)
- Arizona (+6 cents)
- Idaho (+5 cents)
The most expensive markets for gas in the country include the following 10 states:
- California ($4.87)
- Hawaii ($4.71)
- Washington ($4.24)
- Nevada ($4.14)
- Oregon ($3.98)
- Alaska ($3.76)
- Illinois ($3.70)
- Arizona ($3.64)
- Washington, D.C. ($3.57)
- Pennsylvania ($3.50)
Shopping for cheaper auto insurance is another way drivers can lower the cost of owning a car. You could consider changing your auto insurance provider if you want to save money on your auto costs. Visit Credible to find your personalized premium without affecting your credit score.
HOMEOWNERS COULD SAVE TENS OF THOUSANDS IN DAMAGES BY USING SMART DEVICES
Some tips for saving money at the pump
Price-conscious U.S. drivers can use these tips to save money at the pump, according to GasBuddy’s annual Pump Habits study.
Shop prices before pumping
Seventy-nine percent of drivers said they bought gas only to find it cheaper at the next station they drive by, according to the study. Using an app that displays gas prices in your area could help you avoid this costly mistake.
Avoid last-minute gas decisions
Waiting until your tank is empty means less choice when pumping gas and lessens the opportunity to compare prices. Yet 64% of Americans said they have come close to or run entirely out of gas.
Another way to lower your overall cost of car ownership is to shop for cheaper auto insurance, which can help reduce your monthly premiums. Visit Credible to compare your options without affecting your credit score.
MORTGAGE LOAN LIMIT RISES ABOVE $1.1M AS HOME PRICES SURGE
Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.
