The price of gasoline continues to fall across the United States so millions of drivers can save money. However, you may not have the feeling the price is low, particularly if you live in a state with incredibly high prices and your credit card charges are higher as a result.
Although the average cost of regular unleaded gasoline dropped to $3.472 per gallon on August 5, 2024, some states seem to have missed the memo. Here are the 5 states where drivers can still expect to pay the highest prices per gallon.
5 U.S. States with the highest gas prices, so you’ll need more money
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- In Hawaii, the average cost per gallon is $4.667, which is 26% above the national average.
- California drivers pay an average of $4.632 per gallon, 25% higher than the national average.
- Washington’s average gasoline cost is $4.237 per gallon, 18% above the national average.
- Illinois has an average cost per gallon of $3.968, 12% above the national average.
- In Nevada, the average cost per gallon is $3.961, also 12% higher than the national average.
Given that fueling your car affects your personal finances, it’s important to know that gas prices are not randomly set. According to the U.S. Energy Information Administration (EIA), these are the four main factors that determine what you’ll pay at the gas station:
- The price of crude oil: The cost of crude oil is the most significant factor influencing gas prices. When U.S. oil production rises, gasoline prices decrease. Conversely, when production slows, prices at the pump tend to increase.
When you pull up to the pump, the price of gasoline is influenced by several key factors. To understand what drives these prices, let’s delve into the main components that impact the cost of fuel.
2. Taxes
One of the significant contributors to the retail price of gasoline is the array of federal, state, and local government taxes. These taxes can vary dramatically depending on your city and state. If you live in an area with high gasoline taxes, you’re paying a premium every time you fill up your tank.
3. Refining Costs
The cost of refining crude oil is another variable that affects the price of gasoline, and this cost can fluctuate by season. Additionally, additives blended into gasoline can also impact the final price. If you’ve noticed that gas prices can change daily or even hourly, it’s due to the ever-changing costs associated with turning crude oil into gasoline.
4. Distribution and Marketing
Gasoline retailers are eager to make money, and their pricing strategies reflect this. During peak times, such as the summer months or holiday seasons when more people are traveling, gas prices typically rise. Additionally, gas stations located in remote areas with little competition can charge higher prices per gallon. Conversely, stations in areas with several competitors might need to lower their prices to attract customers.
Understanding these factors can give you better insight into why gasoline prices are what they are and how they might change over time.
In today’s digital age, there’s an app for everything, from managing your debt to keeping track of your monthly household budget. Luckily, there are also numerous apps designed specifically to help you save money on gasoline. Below, we’ve highlighted some of the most popular options that can help you fight back against high prices at the pump.
Top Apps to Save Money on Gasoline
Gas Guru
Gas Guru helps you find the lowest gas prices in your area, using data from the Oil Price Information Service (OPIS). You can filter results based on price, the fuel grade you like the most, and how far you’re ready to travel. This makes it incredibly convenient to save money without going out of your way.
Fuelio
Fuelio offers much more than just finding the cheapest gas. This versatile app tracks your fill-ups, provides a detailed mileage log, and helps you keep an eye on all vehicle-related expenses, such as tolls, parking fees, and even trips to the mechanic. It’s an all-in-one tool for managing your vehicle expenses efficiently.
By using these apps, you can easily navigate the ever-changing landscape of gas prices and ensure you’re getting the best deal possible. Download one today and start saving on your next fill-up!
Are you tired of paying too much at the pump? Thankfully, there are apps out there that can help you find the best gas prices in your area. Let’s dive into two of the most popular options: GasBuddy and the AAA TripTik Travel Planner.
GasBuddy: Simplifying Your Search for Cheap Gas
Arguably the most well-known gas app is GasBuddy. Simply enter your ZIP code, and it will instantly display the gas prices at nearby stations. The app’s simplicity makes it extremely user-friendly.
AAA TripTik Travel Planner: More Than Just a Gas Finder
The AAA TripTik Travel Planner app is another excellent tool. You don’t need to be an AAA member to access it. This app not only shows gas stations and their prices in your home area, but it can also help you plan a road trip. With over 85,000 gas stations listed throughout the U.S., finding the cheapest gas is a breeze no matter where you are.
Leverage Technology to Save Money
While you may not be able to control the price of gas, leaning on technology can help you minimize out-of-pocket expenses. Using apps like GasBuddy and AAA TripTik Travel Planner can make a significant difference in your spending.