Recent geopolitical tensions between the U.S. and Iran have resulted in a significant spike in gas prices. In Reno, gas prices have soared to nearly $5 per gallon, partly due to the closure of two California oil refineries. As of April 10, Patric De Haan, Head of Petroleum Analysis at GasBuddy, indicated that consumers might see a drop in prices soon, particularly if ceasefire talks with Iran make headway. De Haan commented, “I would estimate that 85% of the increase we’ve observed in prices since March 1st can be traced back to developments between the U.S. and Iran,” according to News4.
Despite the current high prices, De Haan has shared insightful tips for vehicle owners seeking to save money on gas. He identifies three key areas where people often unnecessarily waste fuel expenditures:
- Type of Fuel: Many drivers opt for premium fuel even if their car doesn’t require it, leading to wasted dollars. “If you’re filling up with it just because you like it or you think it’s better, you’re probably just wasting money,” De Haan advised.
- Filling Station: The location where drivers refuel can significantly affect their expenses. De Haan highlights the importance of choosing the right stations.
- Vehicle Load: Carrying unnecessary weight can impact fuel efficiency. De Haan recommends eliminating excess items from your car to improve mileage.
For those looking for affordable gas options, De Haan points out several places where savings can be made. Membership at Costco can lead to discounts of up to 30 cents per gallon, while using a Costco Anywhere Visa Card can yield 5% cashback on fuel. Other options like Smith’s Shoppers Card program offer rewards for purchases that translate to fuel savings as well. Furthermore, wholesale clubs and gas stations with cash discounts or friendly credit card offers can provide substantial savings, too.
An often-overlooked factor is the extra weight carried in vehicles. De Haan points out that every additional 100 pounds can reduce fuel efficiency by a few miles per gallon. Thus, drivers are encouraged to regularly clean out their trunks and shed any unnecessary cargo.
For those unfamiliar with GasBuddy, it serves as a valuable resource for motorists seeking the best fuel prices in their vicinity. The app offers a trip cost calculator, fuel insights, and gas price maps, helping users find the cheapest stations based on their location. From March to April, average gas prices jumped from $2.93 to $4.01 per gallon, which translates to an extra monthly expenditure of around $34 for American drivers, particularly affecting those in the Southern states who heavily rely on their vehicles.
On April 13, De Haan provided a gas price update on X, expressing concern that prices may rise again due to fluctuations in oil prices. “The verdict is in — gas prices are likely to return to climbing with Trump’s new Strait block. Price-cycling states are likely to hike gas prices soon,” he stated. As such, implementing effective savings techniques has become crucial for managing rising fuel costs.
For timely updates and more insights on gas prices, you can follow Patrick De Haan on X (@GasBuddyGuy).
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