Have you been struggling to fill up at the gas pump because of rising gas prices
? One way many car-owners
have been making ends meet it by filling up at warehouse-style stores like Costco
and Sam’s club, which offer discounted rates on gasoline. The current national average price for a gallon of gasoline as of June 23, 2022 is $4.94. In states like Washington and California, that number climbs even higher to over $5.
In the U.S. alone, over 90% of households report having access to at least one vehicle, so almost no one is spared from the heightened cost of gasoline. One way to mitigate these rising costs is to fill up at a warehouse club that offers discounted rates on gas.
Warehouse clubs like Costco
and Sam’s club charge anywhere from $45 to $120 for access to their stores, but Consumer Reports found that the membership could pay for itself in gas savings alone. Learn more about how to save on gas with car insurance super app Jerry
. How to calculate your gas savings
Savings will of course depend on your location and how much you drive, but even at just 20 cents off per gallon of gas, you could be saving over $112 a year assuming you use an average of 562 gallons annually.
According to a spokesperson from the US Energy Information Administration
, the average American uses about 12.5 gallons per week, but that’s just one estimate. Regardless, the more you drive, the more you would save. A Sam’s Club in Long Beach, California was offering gasoline for just $5.75 a gallon compared to $6.49 at a nearby Chevron. At those prices, a Sam’s Club member who uses 20 gallons of gas per week could save $770 annually.
Apps like GasBuddy can also help you not only find the best gas prices
. Potential drawbacks to warehouse club membership
While a warehouse club membership can be a great option for some people to save, it’s not going to work for every driver.
Especially now while prices are surging, drivers who fuel up at stores like Costco have been subjected to long lines at the gas pump. Most members of warehouse clubs also love the opportunity to save via shopping it bulk, but it’s not always a realistic choice for people who live alone or don’t have the space to buy in bulk.
If there aren’t enough locations near you or you’d have to drive too far out of your way to get one, it could defeat the purpose entirely of getting a membership to save on gas. Thankfully, Sam’s Club, Costco and BJs Wholesale all allow you to cancel at any time and get a refund on your unused membership.
So there’s really no downside to at least trying.
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How much you could save at Costco
A Gold Star membership at Costco is just $60 per year. This gives you access to two membership cards, gas privileges and well as in-store and online shopping access. For $120 a year, you get all those same perks in addition to 2% rewards and discounts on some services.
Costco also offers its own Visa credit card which pays back 4% on gas purchases up to $7,000 per year.
If you’re looking for other ways to save on your car, look no further than the Jerry
app. A licensed broker, Jerry can source quotes from 55+ top insurance companies in less than 60 seconds. In under a minute you’ll see offers from Travelers, Progressive, and more! The average user saves over $800 per year on car insurance.
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