Fuel Prices On The Rise: Are You Loyal To Your Car Or Bank Account?
We've seen this coming for a while now and we're not happy about it. The price of fuel is on the rise and doesn't look like it's stopping anytime soon. The national average fuel price for 4th of July weekend is the highest since 2014 when the average price was $3.66. The national average is at $3.10 and possibly will rise at least another nickel leading up to the Holiday Weekend.
AAA shows the average price for fuel in Wyoming to be over $3.25 for mid grade fuel and $3.44 for diesel. AAA feels nearly 44 million people will hit the road to celebrate Independence Day Weekend.
Gas Buddy is a website that gives you the lowest gas prices in an area and in Casper the lowest is around $3.04 (currently) and the highest around $3.15 for regular fuel prices and $3.15 - $3.39 for diesel.
Depending on who you ask, paying a higher price for fuel by getting a higher grade or brand of fuel will be better for your vehicle. The way cars & trucks are made today, they rarely call for the higher grades of fuel and there isn't really a benefit to paying the extra price. It's recommended you check your owners manual to determine exactly what grade of fuel your vehicle needs and if you get a grade lower than needed, it could actually damage your vehicle. Website www.fueleconomy.gov breaks down the actual octane ratings and why you should be using certain octane levels for your vehicle.
How do you decide whether it's more important to save money by buying the cheapest fuel in town or paying more but being loyal to the brand you usually buy? 2019 data from Gas Buddy says that over 80% of those that fill up 4 or more times per week aren't brand loyal, but Bank Account loyal by filling up with different brands.
According to Car Fix Auto Repair the brand doesn't matter as much due to the regulations put on gas companies to have the same (or about the same) quality of fuel. So being brand loyal could just be hurting your bank account.
So how about you? Brand Loyal or Bank Account Loyal?