The Price of Gas Is Soaring. Here Are 8 Ways to Reduce Your Pain at the Pump.

Source The Motley Fool

Key Points

  • If you haven't considered an electric or hybrid vehicle, now's a good time.

  • Carrying less weight in your vehicle can boost your mileage.

  • Keeping your tires properly inflated can help as well.

  • The $23,760 Social Security bonus most retirees completely overlook ›

Here's some news that's not exactly a secret: The price of gas has been surging lately. In early April, the national average price for a gallon of regular gas was $4.08, according to AAA. That's up 26% from $3.24, where it was a year ago. Worse still, gas costs far more than average in certain regions.

What's going on? Well, there's a lot of unrest in the Middle East, which is disrupting trade and trade routes. This increase is really pinching the budgets of millions of Americans. If you're looking for relief, here are some ways to keep your fuel costs in check.

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Someone is pouring a bucket of cash into his car's gas tank.

Image source: Getty Images.

Ways to cut your spending on gas

1. Drive slower

This may not be a popular strategy, but it can be effective. According to the Department of Energy, "Aggressive driving (speeding, rapid acceleration, and braking) wastes gas. It can lower gas mileage by roughly 15% to 30% at highway speeds and 10% to 40% in stop-and-go traffic."

2. Lighten your load

If your vehicle is loaded down with heavy items such as tools, bricks, or anvils, try to lighten that load. Per the Department of Energy, removing 100 lbs of weight could save you $0.03 per gallon -- which can add up over time.

3. Drive strategically

See if you and a household member or friend can carpool to and from work. If you have errands to run, try to combine a bunch into one trip.

4. Charge strategically

Use a credit card that gives you cash back on spending categories such as gas and you may be richly rewarded. The Blue Cash Preferred Card from American Express, for example, offers 3% back at the gas pump (plus 6% back on groceries). Some gas chains offer their own credit cards with around $0.05 to $0.10 cents off per gallon.

5. Seek cheaper gas

Don't just fill up at the most convenient gas station. Your local supermarket might offer discounted gas tied to how much you spend, and other retailers, such as Costco Wholesale, also offer competitively priced gas. There are even apps that can help you zero in on good gas prices -- check out GasBuddy, for example.

6. Maintain your vehicle well

Get oil changes and other servicing on schedule, and don't forget to maintain a proper tire pressure. The National Highway Traffic Safety Administration reports that tires with correct air pressure can save you up to $0.11 per gallon -- and the tires will last longer, too, saving you more money. They note that "proper tire inflation can extend a tire's life by 4,700 miles."

7. Don't drive

You needn't sell your car, but some of your trips might possibly be undertaken on foot, depending on where you live. And if public transit is available, you might save a bundle by taking a bus or train to and from work or school.

8. Consider an electric or hybrid vehicle

According to the Department of Energy, the average car gets 24.4 miles per gallon, and the average light truck or van 17.8. You can do better than that via an electric or hybrid vehicle. The 2026 Toyota Prius, for example, averages 57 miles per gallon, per Kelly Blue Book, while the 2026 Toyota Camry hybrid averages 51 and the 2026 Ford Maverick hybrid averages 38.

A Motley Fool research report on how much Americans spend on gas notes that gas accounts for about 3% of our spending, on average -- with people in some places and categories spending considerably more. Check it out to see how those in your state fare, and for some money-saving tips.

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American Express is an advertising partner of Motley Fool Money. Selena Maranjian has positions in American Express and Costco Wholesale. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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