$4 gas? How to cut what you pay
If you're getting pinched at the pump, a gas rewards card could help. There are more than 1,000 offers out there -- which one's best for you?
This post comes from Odysseas Papadimitriou at Card Hub.
With gas prices nearly 20% higher than they were at the beginning of the year, who wouldn't love to save at the pump? You could trade in your gas guzzler for a hybrid or start biking to work, but such options aren't for everyone.
A simpler alternative is to change what's in your wallet -- switching to a gas rewards credit card that offers substantial savings.
The best gas rewards card, selected from more than 1,000 offers, is the Pentagon Federal Platinum Rewards Credit Card. First you'd need to join the Pentagon Federal Credit Union, which you can do for as little as $15.
Highlights of the card:
- You earn five rewards points (equal to 5 cents) per dollar spent on gas purchases paid for at the pump, three points per dollar spent at supermarkets and one point per dollar on everything else.
- You receive 5,000 bonus points (equal to $50) after your first purchase.
- You get 20,000 additional bonus points (equal to $200) if you spend $1,000 in the first three months.
But if you spend at least $1,000 at Marathon gas stations each month, a better choice is the Marathon Credit Card, because of its 25-cent-a-gallon rebate. Most consumers, however, would be best served by the PenFed card because you can save no matter where you buy gas. Plus, the PenFed rewards are more lucrative than nearly all station-affiliated cards, including big names like the ExxonMobil Credit Card, the Shell Credit Card and the BP Credit Card (which used to be one of the best gas cards around but, after rewards program changes this month, is now one of the worst).
- See Card Hub's full list of the best gas credit cards
Whichever gas card you choose, there are ways to enhance the rewards it provides. Some of the best tips:
Be aware of corporate partnerships. Gas station chains often partner with other businesses, such as supermarkets, to create rewards-earning opportunities. For example, Shell has a deal with some of the nation's biggest grocery companies, including Giant and Kroger, so that every $100 you spend at the supermarkets gets you a 10-cent-a-gallon rebate on your next fill-up. Tack that on to the 5% cash back offered by the PenFed Card and you're looking at saving around 7.6% per gallon the next time you buy gas at a Shell station. The trick is to find savings opportunities that fit your spending habits, rather than changing where you shop or going out of your way to save.
Build a strategic rewards-card arsenal. The most effective rewards-card strategy is to use multiple cards that complement one another. For example, if your biggest expenses are Marathon gas, groceries and airfare, you'd be better off getting the Marathon Credit Card, the Blue Cash Preferred Card (6% cash back at supermarkets) and the Capital One Venture Card (essentially 2% cash back, provided you redeem miles for travel-related purchases) than a single card offering middling rewards across all purchases.
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If you are interested in the price of gas and oil over time check out GasBuddy.Com you can produce a chart as far back as 6 years and can compare gas price to oil price. Unfortunatly I can include a link so try it yourself. You can see that for most of Obama's term that gas prices were slightly lower than the last 3 years of Bush's term.
Well then point all of us to some studies. Try to point them from both sides of the aisle. An FYI I used to work for Amoco (before BP merger) and have knowledge my self. Also make sure that the technology is viable for large scale recovery. Not experimental that has been used in small tracts of land. How about where other countries may be using the technology to produce large amounts of oil from shale without ruining the countryside and the air and the water. I do like my trips to Colorado and wouldnt want to see the countryside destroyed and the water destroyed for the sake of a little oil.
With a 40% cut in my pay recently, I can't afford to buy a new car. New job? Yeah, like that'll happen for a 62 year old woman. My job is 25 miles one way, so it's eating up all my pay just to work. Make sense? Nope. Between bills, car payment, gas....who can afford to eat?
Your stats are off by four or five years. I know people in the energy sector and the price per barrel of oil would need to be between $50.00 to $60.00 to make the Shale Oil viable with current technology.
you know he did coordinate with Exxon Mobil to create an alternative and much cheaper fuel. Now Exxon is spending their own company's $600 million to try to create it. That way we can let go of oil and oil companies
I agree with Devy Valentino, I don't understand why everyone lashes on the Prez for gas prices. They can't do sh!t about it. And Newt Gingrich trying to promise $2 dollar a gallon gas again? HAH! I won't hold my breath on that one Newty, nor will I waste my vote on a false hope like $2 gas.
You are referring to Oil shale. And to get oil out of Oil Shale the avg price of Oil needs to be at about $100 per barrel to make it profitable. So at todays current prices getting oil from oil shale is barely profitable. So in other words Oil companies wont aggressivly start producing oil from oil shale until either production from oil shale drops considerably or very long term outlook for oil prices is a good deal above $100 per barrel.
Too bad all of us couldn't make a stand and exercise a "Don't turn a key Day" on Memorial Day, just that 1 mere day across America, telling that moron in the WHITE house to F___ off!
the libs bashed Bush relentlessly when prices were high under his term.
Libs have very short memories, caused by the koolaid they drink on a daily basis.
So now they defend Obummer because it fits their agenda
The United States of America sits atop one of the largest untapped oil reserves located below the Rocky Mountains near Colorado. Studies have shown it to have:
but our fantastic Government will not allow drilling there. Getting to this oil with our current technology is easy and safe. This would create jobs and would flood the market taking away the grip that OPEC and the speculators have on our country. One area alone is estimated at having between 2 to 3 trillion barrels of oil.
A couple of other things for everyone.
US Federal Gas tax is 18 cents per gallon.
In 2008 2 cars sold in the US were rated with average fuel economy over 40MPG.
In 2011 65
In 2012 99
That is how you use less gas.
People are claiming Keystone and the Canadian oil that would be pumped in the Keystone pipeline would lower US gas prices. So why is it that the Canadians arent keeping the oil for themselves? Oh do they have enough already and what would come through Keystone is surplus. Interesting then why is gas purchased in Canada even when taxes taken into account just as expensive as gas in the US?
Answer: Oil prices are set on the global level. All of the oil goes into one messy pool for pricing.
Why do people blame Presidents for Oil Prices?! Bush or Obama doesn't matter; Yes prices went up because of 9/11 and hurricanes during Bush era. Oil companties are the blame for all these crazy prices because they make ANY excuse to raise prices
Yes the politicians will do this because people tend to ignore the facts. They wont do the math. I ignored the politicians saying whatever and simply look up the facts and do the math. The fact is that Oil is a traded global commodity and we don't sit on enough oil to make any meaningful dent in the cost of gasoline by producing more oil. We simply use to much to be self sufficient. I tried to do the math for people and they ignore it. You want to spend less on gas use less. Secondly get pissed at politicians who provide fuel to the fire about blustering about attacking the worlds suppliers or putting the soppy lines in jeopardy. As for things like Keystone. There is a reason they want the pipeline to go to Houston and New Orleans. Because there are ports with tax advantages in Houston and New Orleans so it is cheaper to send that oil overseas. Otherwise simply pump it to refineries in the north and midwest.
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