After a tough summer gas prices are finally starting to come down. Most people are happy to see this, but there are a few exceptions. In some states, gas prices have actually gone up in recent months. This is due to a variety of factors, including the cost of crude oil and refinery capacity. As a result, residents of these states are feeling the pinch at the pump.
They may even be feeling the pinch so hard that they are having trouble staying afloat financially. They may be considering online debt consolidation. The main benefit is that you can consolidate multiple debts into one monthly payment. This can save you money on interest charges and late fees.
Luckily, gas prices have begun to fall in many states across the U.S., but it’s not happening everywhere. Here are the states that are still getting hit with the highest prices and what residents in those states can do about it.
States with the highest gas prices
Forbes and The Wall Street Journal both released reports showing that the highest gas prices are currently happening in:
- North Dakota
States which saw an increase in price per gallon for the month of July included:
- Wyoming (+28.4 cents)
- Utah (+27.4 cents)
- Idaho (+26.1 cents)
- Montana (+22 cents)
- Colorado (+15.6 cents)
- Hawaii (+13.4 cents)
- Alaska (+11.9 cents)
- South Dakota (+10.6 cents)
- Nebraska (+5.6 cents)
- Kansas (+2.2 cents)
- North Dakota (+1.2 cents)
- West Virginia (+1.1 cents)
How was the data determined?
Both media outlets used data released by AAA, which tracks the average price per gallon around the country. The current average is around $4.72, though that number fluctuates based on demand and crude oil prices.
What you can do to reduce your costs at the pump
Fighting inflation isn’t easy, especially when it’s affecting the things you need to get to and from work. However, there are still a few ways to lower the amount you pay when you fill up. Here’s how:
- Try using gas-tracking apps – Apps like GasBuddy track live prices in your area and can help you find the lowest price within whatever radius you specify.
- Check to see if your credit card rewards can help – Banks like Chase and American Express typically have limited-time deals where they’ll offer cashback statement credits or reward points bonuses for shopping at their preferred retailers. Sometimes those retailers will include specific gas station chains or even have an entire rewards category for gas purchases. Even if it’s only rewards points and not directly cash back, those points could go a long way to paying for vacations or gift cards.
- Wait until August for your family vacation – AAA determined that July is typically the month when gas prices are at their highest, no matter the inflation rate. If you can hold off until August or September for big travel, you might get a better deal on gas prices, airline tickets, or cruise ships.
- Utilize public transit more – It may be a burden to some, but public transportation is a lifesaver for those who don’t have a lot of wiggle room in their budget to cover skyrocketing gas prices. Most transit is lower than $5/day, is better for the environment, and can still get you where you need to go.
The bottom line
Gas prices are still at all-time highs, though we should expect to see a dip once summer is over. However, for many residents of the U.S., it’s not dipping fast enough for their budgets to handle. Give some of the tips above a try if you’re struggling, and you may just get through these record-high prices without getting into debt.
Name: Michael Bertini
Job Title: Consultant
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