How to Buy Gasoline at the Best Time

Gas prices can change multiple times each day.

A number of factors influence the price of gasoline. In addition to marketplace supply and demand, which explains why prices increase during peak demand periods right before three-day holiday weekends or periods of heavy travel, macro-economic factors, such as the demand for oil in other industries can also compete with oil used to make gasoline and thus drive up the price. Smart shoppers can manage some of factors of gas pricing in their favor, and knowing the right time to purchase gas can save you money at the pump.

Instructions

Daily Driving

1. Buy gasoline on a Wednesday morning. According to Kiplinger, Wednesday morning generally has the lowest prices, especially in major cities.

2. Adjust your purchasing by season. According to ABC News, during the summer, and until Labor Day, the highest prices occur on Mondays and Thursdays, right after the weekend driving ends and before it begins again. After Labor Day, ABC News advises that the highest prices occur on Wednesday evenings and Thursday mornings, making Wednesday morning an optimal time to purchase gas.

3. Buy gasoline early in the morning or late at night. Gas station owners adjust prices during the day to target peak driving hours and gas is often cheaper in late evening or early morning. ABC News reports that stations begin changing prices at 10 AM.

4. Buy gasoline late at night or early in the morning when the ground is still cool to maximize the amount of gasoline dispensed. Stations store gasoline in underground tanks; overnight the gasoline becomes colder, which makes it more dense. Pumping gas when it is cold takes advantage of gasoline's physical properties and gives you more gasoline per gallon.

5. Fill up your gas tank when the gauge reads half full to save long-term expenses. The less fuel in your tank, the harder your car's fuel pump has to work to draw it out of the tank. Over time, this additional work can burn out the fuel pump, requiring a moderately costly replacement.

6. Refuel somewhere else when you see a gasoline truck refilling the station's underground tanks. Over time, sediment develops in the bottom of underground storage tanks and the inrush of gasoline from a truck stirs up this sediment. Pumping gasoline while a truck is refilling the station or shortly after can put some of that sediment into your car's gas tank.

7. Find the best place and time to buy gasoline by price. Websites such as "Gas Price Watch" and "Gas Buddy" provide regularly updated gasoline prices at hundreds of thousands of gas stations nationwide (see Resources). The price difference between one gas station and the next can vary as much as 30 to 40 cents per gallon.

On a Trip

1. Plan your refueling stops in advance to save money. Gasoline generally costs more at stations directly off highways. These stations count on the regular traffic patterns, but they frequently pay more in rent for the prime off-highway locations, and so charge higher gas prices.

2. Buy near state lines when making interstate journeys. Filling stations located near state lines must compete with the gasoline taxes and regulations in other states, which can vary the price of gas.

3. Avoid rich neighborhoods. The price of everything in a higher-rent commercial district increases, including gasoline.

References

• Kiplinger: Five Ways to Save Gas Money; Stacy Rapacon
• Gas Price Watch: How to Buy Gasoline
• ABC News: Saving Money at the Gas Pump; August, 2005
• US Energy Information Administration: Factors Affecting Gasoline Prices
• The Price of Fuel: What Affects Fuel Pricing
• CNN: How to lower the pain at the pump; Jen Haley; March, 2008

Resources

• Gas Price Watch: Directory
• Gas Buddy: Directory