How Much Savings is $.03 Cents a Gallon?

As gas prices have started rising again in the last month, I have found myself more willing to drive around on “E” until I find the right price. It amazes me how much difference in price I find depending on where I happen to be driving in the Dallas/Forth Worth metroplex. Sometimes it’s an adrenaline rush to know I’m paying so much less for gas than I would in my hometown. Then, there are times like this morning when I really had to think about how much of a difference $.03 does NOT make.

I am accompanying my son on a field trip today, and had to have gas in the car. After dropping him at school, I headed straight to my neighborhood Tom Thumb. My Reward Card saves me $.03 cents per gallon. I got out of the car, swiped the Reward Card, started pumping and then turned around to see that the gas across the street was a penny cheaper per gallon, even after my discount. The bargainista in me was disappointed for a split second. Then, then reality came back.

My car has a 15-gallon tank. If I had gone across the street to get gas, I would have saved a whopping $.075 cents (I only filled the tank halfway). And, with my Reward Card, I only saved $.225 cents – not even a quarter. Was it worth it?

Let’s consider the long term. If I had filled the tank, I would have saved about $.45. If I was getting gas once a week, my $.03 Reward Card discount would save me about $20 a year. I’m certainly not going to turn down $20 when all I had to do was swipe my card, but I’m also not going to make an illegal U-turn or bypass two gas stations that are a penny higher, every time I need gas.

Give me a $.10 cent/per gallon discount, and I may change my habits. I may even fill my tank instead of going halfway. A $.10 cent savings is $1.50 a tank or about $80 a year. That’s dinner and a movie with my family, just for swiping my card.

I’m not saying don’t look for the best price on gas. We should always be looking for the best price on everything, I’m cautioning you to be sensible. If you are driving a half mile out of the way to save $.03 cents a gallon, you’re spending that savings on the gas you use to get there. When you know it’s about time to fill up, plan your trip accordingly. Use a site like gasbuddy.com and find out where the cheapest gas is on the route you’ll be taking. Look for those $.10 gas promotions on your grocery store cards and take advantage of them. Walk your child to school every so often and leave the car at home. Those are the things that truly save you the most on gas.