BELOW SUPERNAV drop zone ⇩

What’s the cheapest day of the week to fill up on gas?

The day of the week affects how much you pay at the pump. (Photo: Getty Images)

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

Testing widget old system

Lorenzo shared

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

(NEXSTAR) – Gas prices across the country remain high — and are about to get higher, it seems. Saving money at the pump doesn’t just mean knowing where to fill up – it also helps to know when to fill up.

In general, gas prices tend to be lowest at the beginning of the week, on Monday and Tuesday, said GasBuddy’s lead petroleum analyst Patrick De Haan. As the week goes on, gas prices tend to rise until they reach their most expensive point on the weekend – especially on Friday and Saturday.

What drives this trend?

“If I had to venture a guess, energy markets are closed over the weekend, but they’re open Monday through Friday,” De Haan said. “By the time the weekend rolls around, (gas stations) may be passing around any increases that happened earlier in the week.”

There’s also a key government report that comes out every Wednesday, De Haan said, which can influence the wholesale price of oil.

Basically, if gas stations see the price of oil rising as the week goes on, they pass on that cost to customers so they don’t lose money.

“They’re also less likely to lower prices at the onset of the weekend because a lot of people fill up on the weekend, so there’s less of an incentive,” De Haan said.

Gas isn’t always cheapest on Monday, De Haan emphasized. There are variations from place to place and it depends on what’s going on in the oil markets at any given time. The broad trend was identified in a recent GasBuddy study.

The average gas station will change prices a few times a week, De Haan said, but there are volatile times where a station might change prices several times a day. If they see their competition’s prices rising, gas stations are more likely to do the same.

“One tip is to always shop around. Prices can vary significantly from block to block,” De Haan said. “You can save $100 or even $200 to $300 over the course of the year if you’re paying attention.”

Your Money

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Cloudy

la

71°F Cloudy Feels like 71°
Wind
8 mph SSW
Humidity
66%
Sunrise
Sunset

Tonight

Partly cloudy skies this evening will become overcast overnight. Expect mist and reduced visibilities at times. Low 62F. Winds light and variable.
62°F Partly cloudy skies this evening will become overcast overnight. Expect mist and reduced visibilities at times. Low 62F. Winds light and variable.
Wind
6 mph W
Precip
13%
Sunset
Moon Phase
Waning Gibbous