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Gas price hike expected soon - here's how to save

In almost three weeks, the average price for gas in Memphis rose from $3.22/gallon. Gas buddy said do not be surprised if you see some pumps charging $4.00/gallon.

MEMPHIS, Tenn. — Gas prices continue to climb in the Mid-South and across the country in the wake of Russia’s attack on Ukraine. 

As of Friday, Tennessee's average is $3.30 a gallon, and in Memphis, the average is $3.43. In almost three weeks the average price for gas in Memphis rose from $3.22 a gallon. GasBuddy said do not be surprised if you see some pumps charging $4.00 a gallon. 

The U.S. does not get all of its gas from Russia, but since Russia is the second-largest oil producer in the world behind the U.S., it does get about 3% of its oil from Russia. 

Since GasBuddy doesn't expect gas prices to drop anytime soon, here are a few ways you can save at the pump. 

1. Use a gas price app

If you download the free GasBuddy app on your smartphone, it will show you the cheapest gas prices wherever you are. As of Friday morning, some of the cheapest gas stations around Memphis and Shelby County include:

  • Fast Check- 4580 Winchester Rd, Memphis, TN | $2.69
  • Murphy Express- 646 W I-40 Service Rd, West Memphis, AR | $2.94
  • Valero- 4161 Winchester Rd., Memphis, TN | $2.99
  • Murphy USA - 2411 Goodman Rd W, Horn Lake, MS | $3.07
  • Exxon - 5847 Airline Rd., Arlington, TN | $3.09
  • Exxon - 2675 Getwell Rd., Memphis, TN | $3.09

Also through the GasBuddy App, you can enroll in their gasoline savings program which gives drivers a discount on every gallon of gas they will ever pump. Drivers can join Pay with GasBuddy for free and save on every gallon of gas they pump. Click HERE to learn more. 

2. Choose a good rewards program or credit card

There are dozens of reward programs that allow drivers to earn points just for going about their daily lives. Below are few programs you should look into.

RaceTrac Rewards

  • Earn a point for every $0.25 you spend in a RaceTrac store and a point for every gallon you purchase with RaceTrac’s fuel rewards program. Use the rewards card with the RaceTrac app to gather and track points, then redeem the points for free stuff.

Shell Fuel Rewards

  • Link your credit card to your Shell Fuel Rewards card to earn $0.10 per gallon for every $50 you spend at a participating restaurant. Also, you can earn $0.05 per gallon on each fill-up when link your Shell Fuel Rewards account with your Dunkin’ DD Perks account. You'll also earn points on fuel after purchasing 5 beverages. 

Kroger Fuel Rewards

  • Join the Kroger Fuel Rewards to get rewarded for grocery purchases at Kroger. Get 1 fuel reward point for every dollar spent. Earn 2x points when you purchase Gift Cards. Every 100 points earn you $0.10 off a gallon of gas. Get qualifying prescriptions filled at Kroger for 50 points each.

Exxon Mobil Rewards+

  • Earn 3 points for every gallon you pump at Exxon stations with the Mobil Rewards+ program, and 2 points for every $1 you spend in the store or on car washes. Once you reach 100 points, you can use those points for qualifying purchases – every 100 points equals $1 off your total. Points do expire after a time, though.

Circle K Easy Rewards

  • With Circle K Easy Fuel Rewards Program, you earn 10 points per gallon on gas purchases and 20 points per dollar spent on store purchases like food and alcoholic beverages. For every 2,000 points you bank, earn $2 in Circle K Cash (for a rewards rate of 1,000 points per dollar). Members get other benefits like different club offers and special savings and entries into sweepstakes and rewards.  

3. Buy from a warehouse club

Filling up at one of the warehouse clubs is a great way to save if you don’t mind the trade-offs, such as membership fees and long lines. Costco typically sells their gas about 20 cents below the market average. But keep in mind that you have to offset a $60 yearly membership fee.