GasBuddy head of oil analysis Patrick de Haan says the top gas price is currently in the $4/gallon region amid tensions overseas.
U.S. gas prices hit their highest levels in more than a decade on Monday as Russia’s incursion into Ukraine exacerbated lingering supply chain problems.
The U.S. national average per gallon of gasoline rose 45 cents a gallon last week to top $4.06 on Monday, according to the Auto Club AAA.
Gasoline prices are displayed at gas stations in Leonia, NJ on Monday, March 7, 2022. (AP Photo/Seth Wenig)
Here are some resources for finding cheap gas in your area:
gas buddy
GasBuddy is a Boston-based technology company that offers an app that helps users find the cheapest service station in their area. Users can search for gas stations by entering their city and zip code, or even their preferred type of fuel and payment system.
Stephen Smith, a GasBuddy user, displays the GasBuddy app on his mobile phone in Needham, Massachusetts on August 12, 2017. (Photo by Barry Chin/The Boston Globe via Getty Images)
Gas Guru
Similar to GasBuddy, the Gas Guru app will display the “best” and “good” gas prices in your area, coloring each in green and yellow respectively.
Google Maps
Many gas stations have prices on Google Maps for unleaded or “regular” petrol. This can be found by simply typing “gas station” on Google Maps and nearby service stations will appear with their prices.
Gas prices and gas stations (Google Maps)
Other ways to save
In other cases, a few simple tricks will help save on refueling:
- Keep your tires inflated
- Avoid heavy objects in the car
- Reduce unnecessary trips
Energy prices are contributing to the worst inflation Americans have seen in 40 years, far outpacing wage growth. Consumer prices jumped 7.5% in January from a year ago, and analysts are forecasting a 7.9% increase when the government releases February data later this week.
EXXON MOBIL CHIEF SAYS OIL COMPANIES WERE IN HEAVY BEFORE UKRAINE-RUSSIAN WAR
Oil prices soared early Monday before retreating. Benchmark US oil rose to $130 a barrel the day before before slipping to around $119, up 3%, in the afternoon. The world price soared to $139 before dropping to about $123 a barrel.
The US imported 245 million barrels of oil from Russia last year — about 8% of all US oil imports — compared to 198 million barrels in 2020. That’s less than what the US receives from Canada or Mexico, but more than it imported last year from Saudi Arabia. .
Russia’s increasingly vicious assault on Ukraine has heightened calls to cut Russia off from the money it receives from oil and natural gas exports. Europe is heavily dependent on Russian gas.
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President Joe Biden was reluctant to ban Russian oil, fearing it could fuel inflation ahead of the midterm elections this November.
The Associated Press contributed to this report.