Car rates

High gasoline prices could break Christmas record – How you can pay less at the pump

gilaxia / iStock.com

Unless you find your own gas pump under the tree this year, you could end up paying higher gas prices than ever before. Even as gas prices continue to fall in the United States, there is still a possibility that prices will set a new holiday record this year.

Compare: 5 luxury cars that will only increase in value
Explore: How Will the Omicron Coronavirus Variant Affect Gas Prices?

The national average price of gasoline has fallen 10 cents a gallon since Thanksgiving, according to GasBuddy, a fuel-saving platform. That average is expected to continue to drop to $ 3.25 per gallon on Christmas Day, which is just a dime below the Christmas record set in 2013.

Even with the recent drop in prices at the pump, they remain historically high. For the year, the average price is up 45% from the 2020 $ 2.25 per gallon. The good news is that GasBuddy expects prices to continue to decline in 2022.

“We received a Christmas present that few should complain about: the drop in gas prices at a time of year when millions of Americans are spending their hard-earned money on gifts for loved ones. The last thing they should have to worry about is expensive gasoline, ”said Patrick De Haan, head of petroleum analysis at GasBuddy, in a press release.

Year in review: cars, electricity and other areas hardest hit by inflation in 2021
Learn: Toyota to launch 30 electric vehicle models by 2030, bringing investment to nearly $ 18 billion

If you’re looking for ways to find cheaper fuel, here are some tips:

  • Keep an eye out for discounts. Some gas stations offer discounts for cash payments or offer loyalty and rewards programs that can lower your bill at the pump. GasBuddy’s apps and other platforms can help you find the best deals along your route.
  • Hit the big retail chains. As previously reported by GOBankingRates, large retail chains like Costco and Walmart can use their greater purchasing power to offer lower gas prices than independent gas stations.
  • Don’t drive like crazy. Driving at high speeds, braking hard, and constantly having to slow down and accelerate can all use up more gas than you need to. Moderate your speed so that you don’t have too many sudden starts and stops to get more mileage from your gasoline.

More from GOBankingTaux

About the Author

Vance Cariaga is a London-based writer, editor and journalist who previously held positions with Investor’s Business Daily, The Charlotte Business Journal and The Charlotte Observer. Her work has also appeared in Charlotte Magazine, Street & Smith’s Sports Business Journal, and Business North Carolina magazine. He holds a BA in English from Appalachian State University and studied journalism at the University of South Carolina. His reporting has been recognized by the North Carolina Press Association, the Green Eyeshade Awards and AlterNet. In addition to journalism, he has worked in banking, accounting and restaurant management. A native of North Carolina who also writes fiction, Vance’s short story “Saint Christopher” placed second in the Writer’s Digest 2019 short story competition. Two of his short stories appear in With One Eye on the Cows, one anthology published by Ad Hoc Fiction in 2019. His first novel, Voodoo Hideaway, was published in 2021 by Atmosphere Press.