Biden Acts to Ease Gas Prices, But You Can Save Money Now

Asia's Tech News Daily

President Joe Biden is taking steps to wrestle down gas prices, which were nearly 60% higher in October 2021 than they were the same month a year ago.

best gas credit cards, consider an electric car

NerdWallet – NerdWallet

This week, he announced that the Energy Department would release 50 million barrels of oil from the country’s Strategic Petroleum Reserve to increase supply.

Last month, the nationwide gas price average hit a seven-year high, according to AAA, and prices this week averaged $1.29 more than they were this time a year ago.

“The fact is, right now, that energy prices at the pump and at home are too high,” Energy Secretary Jennifer M. Granholm said during a press briefing this week. “Low-income families already spend up to 30% of their monthly income on fuel, on energy. And so, any price increase — for them, in particular — causes an undue strain, but it causes a strain on everyone.”

But don’t expect that to change gas prices immediately, Biden warned.

In the meantime, you can cut how much you pay at the pump. Here’s how.

Know how to find cheaper gas stations

Apps like GasBuddy track local gas prices, which can show if it’s better to fill up at the station near your home or by your workplace. And while warehouse clubs like Costco typically require membership fees, many have their own gas stations that offer lower prices, which may alone justify the dues.

Change how you drive to increase fuel economy

Believe it or not, adjusting how you speed up, brake or use cruise control can impact how much gas is used on your trip.

For starters, slow down. According to a study from car-shopping website Edmunds, slowing down from 75 to 65 mph increased fuel economy up to 14%.

Embrace cruise control. Edmunds found that driving at a constant speed can save up to 14% versus constantly changing lanes, accelerating and decelerating.

And idling eats up a significant amount of gas, even though you’re not moving. If you’re waiting outside school to pick up your kids, or you’ve pulled over at the end of your block to chat with a neighbor, turn off the engine. Edmunds found that avoiding excessive idling can cut fuel use up to 19%.

Use the right gas credit card

Ultimately, it’s likely you’re paying more for gas this year than last, no matter how prudent you are about saving. If so, at least maximize rewards earned from your purchases. The best gas credit cards typically net at least 3% back in rewards for your gas station purchases.

Go electric

You could also ditch gas completely and consider an electric car.  They can be expensive, and they can be a hassle when you consider how often you’ll need to charge it and figure out where you’ll be able to do so.

But they come with benefits too — no oil changes needed, access to carpool lanes in some regions, and reduced environmental guilt. Then there’s the tax benefit, too. All-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500.

And these days, not paying for gas might feel like the biggest benefit of them all.

More From NerdWallet

  • It’s OK to Sit Out Black Friday This Year
  • How to Be a Savvy Shopper Amid Cyber Monday Hype
  • What to Do When Inflation Cuts Into Your Black Friday Deals

The article Biden Acts to Ease Gas Prices, But You Can Save Money Now originally appeared on NerdWallet.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Cyberpunk maker CD Projekt misses profit expectations

A bird flies in front of the Cd Projekt logo at its headquarters in Warsaw (Reuters) –CD Projekt, the Polish video game maker behind “Cyberpunk 2077“, missed expectations on Monday ... Read more »

U.S. lawmakers ask FAA to detail Boeing 737 MAX oversight

FILE PHOTO: FILE PHOTO: FILE PHOTO: A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle (Reuters) – Three U.S. House Democrats on Monday asked ... Read more »

Exclusive-Ukraine's Naftogaz says Russia-EU gas transit deal may not be renewed

FILE PHOTO: The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia By Susanna Twidale LONDON ... Read more »

‘I'm really sad': Jack Dorsey publishes final email as Twitter CEO

(Getty Images) Twitter CEO Jack Dorsey has published a final email as leader of the company before stepping down, saying that he feels “really sad…yet really happy” about the decision. ... Read more »

Medicare open enrollment ends Dec. 7. Here's why you should review your 2022 coverage if you haven't already

Phynart Studio | E+ | Getty Images You've got about a week left to make sure your 2022 Medicare coverage suits you. The program's fall open enrollment period, which opened ... Read more »

Asda charters cargo ship with festive items amid supply chain crisis

Photograph: Christopher Thomond/The Guardian Ship carrying 350 containers with toys, clothing and decorations is supermarket’s first ever private charter Asda has revealed it chartered its own cargo ship to ensure ... Read more »

Chinese could hack data for future quantum decryption, report warns

‘Threat groups’ could target valuable secrets with aim of unlocking them when computing power allows Chinese hackers could target heavily encrypted datasets such as weapon designs or details of undercover ... Read more »

Eni ready to spend more on nuclear fusion in green drive

FILE PHOTO: Eni‘s logo is seen in front of its headquarters in San Donato Milanese By Stephen Jewkes MILAN (Reuters) – Italian energy company Eni is ready to invest more ... Read more »

The economy is getting back to normal? We don't even know what that looks like any more

Photograph: Luis Ascui/AAP Wednesday’s GDP figures will likely be the second worst ever recorded in Australia, but more than anything they will highlight an economy still massively affected by the ... Read more »

The infrastructure bill cracks down on crypto tax reporting. What investors need to know

Chinnapong | iStock Editorial | Getty Images Cryptocurrency investors may face higher taxes as the infrastructure bill cracks down on future IRS reporting, financial experts say. The $1.2 trillion deal calls for ... Read more »

Keys to leading teams with a hybrid work model

Depositphotos.com Currently, flexibility has become a priority for workers, many do not want to return to the 100% face-to-face way of working, because according to a survey we conducted in ... Read more »

France extends stricter controls on foreign ownership of key firms

FILE PHOTO: French Finance Minister Le Maire and WTO Director-General Okonjo-Iweala meet in Geneva PARIS (Reuters) – France will extend by one year stricter measures on foreign ownership of companies ... Read more »

Why Making Progress Is the Most Powerful Motivator

Long before Festivus and “yada yada” became baked into our cultural lexicon, Jerry Seinfeld was just another comedian, touring the country in hopes of making people laugh. It was during ... Read more »

‘Really good news for pension savers' as new rules come into force

Pension saving will be undertaken by many people planning for retirement, but there could be risks involved. One of these is protecting hard-earned cash from the clutches of scammers, and ... Read more »

What are 'mental triggers' and how to use them to persuade

Have you ever felt that a website traps you from beginning to end, and is actually an advertisement in which, from time to time, you get rushed with that of ... Read more »

Twitter CEO Jack Dorsey steps down, CTO Parag Agrawal tapped to replace him

Twitter’s (TWTR) Jack Dorsey is stepping down as CEO, the company announced Monday. He will be replaced by CTO Parag Agrawal. “I've decided to leave Twitter because I believe the ... Read more »

Matthew McConaughey: Alright, Alright, Alright, I'm Not Running for Texas Governor

Last night, Matthew McConaughey took to social media and delivered what amounted to the most dramatically drawn out non-announcement in modern political history.  In a three-plus-minute address, the Oscar-winning actor ... Read more »

What Apple, Amazon and Kim Kardashian Can Teach You About Innovating Every Day

In the not-too-distant past, innovation was viewed as a glamorous activity primarily left either to disruptive startups and entrepreneurs or to specific departments which were cordoned off from the others within ... Read more »

Europe's energy crisis pushes Gazprom to record profits

Gazprom The Russian state energy empire Gazprom has made record profits on the back of Europe's energy supply crunch, and predicted a lucrative winter as the Continent braces for a ... Read more »

Britain open to law to combat online scams - minister

LONDON (Reuters) – Britain is open to legislating to combat scam adverts online amid a surge in fraud attacks, financial services minister John Glen has told lawmakers. Victims' groups and ... Read more »

Norwegian analyst expects high electricity prices all winter long

People must prepare for the fact that the high electricity prices will last all winter, power analyst Tor Lilleholt says. New price records could be set already this week.  “The ... Read more »

The difference between convincing and inspiring

Depositphotos.com Language is a powerful tool in the construction of human relationships of all kinds, which differentiates us from other species; However, it is our capacity for interpretation that injects ... Read more »

Twitter CEO Jack Dorsey Expected to Step Down, Sources Say

Twitter CEO Jack Dorsey is expected to leave his executive role, sources tell CNBC.  Dorsey is currently the CEO of both Twitter and Square, his digital-payments company.  Twitter stakeholder Elliott ... Read more »

Russia's Gazprom expects 2022 gas prices in Europe no lower than 2021

FILE PHOTO: St. Petersburg International Economic Forum MOSCOW (Reuters) – Russian state gas company Gazprom forecasts that gas prices in Europe next year will be no lower than in 2021, ... Read more »

Jack Dorsey: Who is the Twitter CEO and why might he be resigning?

(AFP via Getty Images) Jack Dorsey became CEO of the social networking site Twitter – initially written “Twittr” – in March 2006. Reports say that the billionaire is set to ... Read more »

Elon Musk Urges Tesla Employees to Stop Rushing Deliveries

Though customers may be well into their holiday season spending habits, Tesla CEO Elon Musk has asked employees to pump the brakes on rushing Q4 orders in order to hit ... Read more »

Jefferies poaches Deutsche Bank bankers to bolster Iberia coverage, source says

FILE PHOTO: The logo of Germany’s Deutsche Bank By Pamela Barbaglia LONDON (Reuters) – U.S. investment bank Jefferies has snapped up Deutsche Bank's M&A head in Iberia, Andres Gutierrez, as ... Read more »

Why the 10-80-10 Rule Is Key To Achieving Success

The 10-80-10 rule is an extension of the Pareto principle that says 80% of productivity/wealth is generated/owned by 20% of the population.[1] This ratio is often observable in various statistics ... Read more »

Exclusive - Greece to borrow 10 to 12 billion euros on bond markets in 2022

FILE PHOTO: A 50 Euro banknote is seen in a picture illustration. By Lefteris Papadimas ATHENS (Reuters) – Greece plans to borrow 10 billion euros ($11.3 billion) to 12 billion ... Read more »

Twitter chief executive Jack Dorsey set to step down, report says

Photograph: Anushree Fadnavis/Reuters Dorsey co-founded site in 2006 and posted world’s first tweet Company not immediately available for comment Twitter co-founder Jack Dorsey is expected to step down from his ... Read more »

Russia fines Google 3 million roubles for not deleting banned content

FILE PHOTO: The logo for Google LLC is seen at their offices in Manhattan, New York City MOSCOW (Reuters) – A Moscow court fined Alphabet Inc.'s Google 3 million roubles ... Read more »

Jack Dorsey: Twitter CEO to resign, reports say

(Independent) Jack Dorsey, Twitter’s chief executive, is to resign, according to a shock new report from CNBC. Twitter’s shares jumped 11 per cent after the unconfirmed reports. CNBC said that ... Read more »

Cyber Monday and Black Friday sales drive shoppers to malls as UK high street suffers

Before the pandemic, footfall in central London rose on Black Friday by 23.7%, compared to the previous week. This year it rose just 2.3%. Photo: Daniel Leal/AFP via Getty The ... Read more »

Japanese knotweed shaves £11.8billion off property values

© Provided by This Is Money MailOnline logo Japanese knotweed is responsible for shaving £11.8billion off the value of Britain’s property market, new research by a removal specialist claims. As ... Read more »

The 50 Richest People in Crypto

Rather than the Musks, Zuckerbergs and Gates Ellisons of the world,  The Crypto Rich List compiled by tradersofcrypto.com, comprises a wide array of players within the cryptocurrency ecosystem. Developers, investors, and founders of trading ... Read more »

Markets on alert over new Covid variant but oil and shares rally

(Evening Standard) OIL prices and stock markets recovered somewhat today after a heavy plunge on Friday, but the mood remains anxious as investors seek more information about the Omicron Covid-19 ... Read more »

Russia's Gazprom reports record earnings amid global gas crisis

Photograph: Peter Kovalev/Tass Company expects higher profits for final months of 2021 as customers in Europe face soaring energy costs Russia’s state gas company has reported record earnings for the ... Read more »

Starmer sparks row with deputy over frontbench reshuffle

Keir Starmer has sparked a row in the Labour party by launching a shadow cabinet reshuffle as his deputy was giving a major speech attacking “corruption” by the government. © ... Read more »

5 Strategies to Beat Imposter Syndrome: How I Built My Confidence With Practical Tactics

I remember it like it was yesterday. The crowds were gathered. The spotlight was lit. And my knees kept time with my nerves. I was going to tell a room ... Read more »

Is Recent IPO Vita Coco a Good Stock to Buy?

Premium lifestyle beverage manufacturer The Vita Coco Company (COCO), which is known for its coconut water products, made its stock market debut on October 21, 2021. But even though the ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic