Josh Elledge - Chief Executive Angel
Did you catch what happened last week? In some parts of Michigan, the price of gasoline dipped to as low as $3.15 a gallon and then shot back up to near $3.50 a few days later.
It seems as though nothing is quite as befuddling or frustrating as trying to understand the ins and outs of gasoline pricing. As a commodity, the price is up and down for sometimes no apparent good reason.
We can't change the way gasoline is priced and, at least for now, most of us are stuck driving vehicles that require it to run. However, there are ways to save at the pump using rewards programs.
Easy and big savings can be found through proper auto care, more economical driving, and by comparing prices at local stations through an app. There are also three types of rewards programs that can help take the bite out of gasoline prices.
Gas station rewards programs
First up are gas station rewards programs. I don't have enough room here to list them all, but here are three popular options.
Speedy Rewards: Offered by Speedway gas stations, the Speedy Rewards program is the top pick of some of our Angel Workers. You earn points for gas and convenience store purchases. Those points can then be redeemed for items ““ about 25,000 points gets you a $25 Speedy Cash card. To maximize your points, buy Speedy Cash gift cards first since those typically have bonus points attached. Then use the cards to pay for your gas and other purchases.
BP Driver Rewards: Launched earlier this year, BP Driver Rewards isn't to be confused with the BP Visa Card that also offers fuel rewards. The Driver Rewards program is a free loyalty card used to earn points for every fill-up. For every two fill-ups totaling at least 20 gallons, you can earn 5 cents off per gallon, up to 20 gallons… s0… it's a free dollar.
Fuel Rewards Network: For discounts at Shell stations, sign up for the Fuel Rewards Network. This free card offers a twist from the Speedway and BP programs. In addition to earning points for purchases at Shell, you can also earn points for shopping at affiliated retailers and restaurants.The full list of stores that participate in Fuel Rewards Network can be found onlinehere, and includes regional grocery chains like Bi-Lo, Winn-Dixie, HyVee and Save Mart Supermarkets.
Gas station rewards programs are free so there is no reason not to use them. The best one is quite simply the one for the station you frequent most often. While the rewards are a nice perk, I wouldn't recommend driving far out of your way just for a gas station loyalty program.
Grocery store rewards programs
Another option to save on gas is to use fuel rewards offered at your local grocery store. For Michigan shoppers, here are two of the most readily available programs.
Spartan yes Rewards: You can use yes Rewards points earned at Family Fare, VG's, Glen's and D&W Fresh Market stores to save money at any of Spartan's Quick Stop locations. For every $50 spent in a single transaction at the supermarket, you get 5 cents off per gallon, up to 20 gallons. In addition, yes Rewards can be used to earn discounts at Speedway and Marathon stations.
Meijer mPerks Pharmacy Rewards: Meijer used to run a decent Fuel Rewards program, but shoppers today will have to settle for mPerks Pharmacy Rewards. Definitely not as rewarding but by filling prescriptions at the Meijer pharmacy, you can earn as much as $1.00 off per gallon. Also watch your mPerks account for the occasional e-coupon for savings at Meijer gas stations.
If you belong to a warehouse store such as Sam's Club, you may want to fill up there since those stations typically have lower prices.
Gas credit cards: proceed with caution
Finally, you can save money on fuel by using a gas credit card. However, I advise extreme caution here. Gas credit cards can give you rebates of up to 5 percent cash back or other perks, but if you can't pay off your card every month, any rewards you earn will be negated by the interest you pay.
Program details change regularly so I won't get into specific cards here. But if you are self-disciplined enough to pay off the balance each month, combining a rewards credit card with a gas station or grocery store loyalty program can be a great way to double your savings. Check out sites such as CardRatings.com and NerdWallet.com to find more info on the current gas credit card deals.
What is your favorite way to save money on gasoline? Tell us in the comments or on our Facebook page.
