Likely to soon reach their highest level in four years, $4-a-gallon gasoline prices are imminent.
The national average was around $3.98 a gallon as of March 27, according to the American Automobile Association (AAA). That was up from about $3.91 a week ago and around $2.98 a month ago. The price has climbed 83 cents since a year ago, when it was roughly $3.15.
Analysts attribute the surge largely to the U.S..-Israeli war on Iran, fueling rising global oil and gas prices this month. U.S. consumers, including Black Americans, are now being forced to endure the extra hardship when struggling with inflation, and managing money is already difficult.
Exacerbating matters, a fresh report from GasBuddy projects the U.S. average for a gallon of gas could reach $4 as soon as next week. That reportedly would mark the first time the cost has risen to that level since 2022, when Russia invaded Ukraine.
Patrick De Haan, head of petroleum analysis at GasBuddy, said, “There are few signs of stabilization so far, as global oil prices continue to climb and early indications suggest consumers may begin to pull back in response to the rapid pace of increases.”
However, the uplifting news is that BLACK ENTERPRISE is here to provide many ways to help drivers offset the impact of losing money rapidly while cutting gasoline spending:
Combine errands: Merge these tasks into a single trip to reduce driving time.
Check out gas apps: Consider using AAA, Gas Guru, and GasBuddy to find lower gas prices near where you live.
Use cash instead of plastic: Observers suggest paying with cash rather than a credit card at the gas pump. They claim you can save money doing that. Be aware that some gas stations might levy a fee for using a credit card.
Avoid premium gas: Research shows this higher-octane gasoline is not essential or beneficial for most cars. As such, do not spend extra cash to buy that grade.
Explore fuel rewards programs: Several grocery stores and national gas stations offer gasoline discounts for patrons. Try to find one near you. And be sure to link your purchases to the same account regularly.
Drive cautiously: Don’t drive aggressively, as that can trim gas mileage by 15% to 40%, data shows. Accelerating rapidly and braking suddenly can lead to accidents and cause vehicle deterioration.
Reduce driving: This can be done by carpooling, walking, biking, or using public transportation. Another option is working more from home if that’s an available option.
Maintain good vehicle maintenance: This can enhance fuel economy and peak engine performance, helping trim gas usage. Viable maintenance tasks, such as maintaining proper tire pressure, replacing air filters, and using recommended oil grades, can be beneficial.
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