New Website Shows That Motorists Do Not Always Save Money on Gas by Going to a Cheaper Station
With gas prices soaring motorists are looking for savings. But, a new Website shows that searching for the lowest price at the pump does not always save money. It is possible to spend more on the drive than you save on price.
Baltimore, MD (PRWEB) March 26, 2008 -- Chartley Publishing, LLC has launched the new Website Compute Gas Savings.com It has online interactive calculators that motorists can use to determine if an out-of-the-way drive to a cheaper gas station costs more than the savings.
With gas prices predicted to approach $4 per gallon this summer, many motorists rely on real-time price information on the Web to alert them to the lowest gas prices in their driving area. But is a trip to a lower priced gas station worth it? At the Compute Gas Savings Website, motorists enter: tank size, miles per gallon, the local price of gas, the price at a station further away, and the distance between the two stations. Assuming a round tip is made to buy the cheaper gas, the calculator will report the net savings per gallon after subtracting the cost of the gas burned on the trip.
For example: a motorist with a 15-gallon tank in a car that gets 25 miles per gallon decides to go to a station 6 miles further away to pay $3.10 per gallon instead of $3.15 at a local station. Because of the nearly half-gallon of gas burned on the 12-mile round trip, the motorist actually spent $0.05 more per gallon on the purchase, rather than realize the intended $0.05 per gallon savings.
How far should a motorist drive to buy cheaper gas? A second calculator at the Website determines the break-even distance. For the example of a 15-gallon purchase for a car that gets 25 miles per gallon, the motorist should drive no further than 3 miles away to pay a nickel less than a $3.15 local price.
The calculators are the creation of Joseph Ganem, physicist and author of "The Two Headed Quarter: How to See Through Deceptive Numbers and Save Money on Everything Your Buy." The book was a Finalist in the category "Business: Personal Finance" of the National Best Books 2007 Awards. "Price comparisons are an example where consumers are easily misled by numbers," Ganem said. "The total cost of a purchase should always be considered, not just the price. In many cases additional hidden expenses can wipe out any savings on price." To learn more about Ganem's book visit The Two Headed Quarter.
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