Looking for Cheaper Gas?
Then come to New Jersey!
And fill up at gas stations along the Garden State’s pay road!
With national average of regular gas at $3.574/gallon (Gasbuddy.com), NJ’s $3.374/gallon average is the second lowest (only Wyoming has cheaper gas). However, $3.374 per gallon is NOT the cheapest you can find in the state.
Along NJ’s toll road, Garden State Parkway and NJ Turnpike, regular gas is still sold at $3.179 a gallon, but only for a few more hours. Because of the contract between the state and gas stations, stations can only adjust their price once a week, at the mid-night every Friday. By tomorrow morning, the price will go up 23 cents. No wonder people are lining up to fill up their tanks today! Even out-of-state drivers are attracted to these stations to get a full load before heading back home to facing near-4-dollar gas.
And today CIBC World Markets analyst came out with a prediction that gas price could hit $7 in four years. Talking about being squeezed, the ever increasing gas price has a much bigger impact on our wallet than food, at least for now.
Featured Information: Gas Rewards Credit Cards
Feeling the pain at the pump? Get up to 5% cash rebate for the money you have to spend from these gas rewards credit cards:
Discover Open Road Card: With Discover Open Road Card, you can earn 5% cashback on gasoline purchases at any stations where Discover is accepted. Plus, it also offers 5% Cashback Bonus on auto maintenance. However, the drawback is only the first $100 are eligible for 5% bonus. Other purchases earn 1% Cashback Bonus.
Chase Freedom Credit Card Chase Freedom Card is the gas reward card I am using, though not exclusively for gas purchase. The card gives 3% cashback on all purchases at any gas station. But it comes with a catch: Gas purchase must be one of top 3 categories in monthly spending to e receive the 3% reward. Otherwise, the rebate will be just 1%. In addition, the card also has a maximum of $18 you can earn on 3% bonus every month.
More card offers can be found here.
*Photos from NJ.com
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The funny thing is, I’m sure some people drive far out of their way, then sit in their cars idling them for ten minutes waiting in line, all to save $3 in gas which they just spent getting there.
Actually, that’s what I heard: People are coming from NY to get cheaper gas in NJ! I wonder how much they can save if they have to drive extra 10 miles to fill up their tanks. I guess some are more comfortable with the price than the actual cost
$7 in four years…I don’t think it’s going to take that long…2 maybe. This is a pretty bad crisis right now. Demand is not going to go away because people still must drive. It will take prices of $10 a gallon before people will seriously stop changing their driving habits. Right now, it’s all just lip service.
About Chase Freedom. Have you considered upgrading to “Plus”? They have more categories and no rewards cap.
Yan: I actually didn’t know there’s a plus version of the Freedom card. Are you using it? I like the Freedom card a lot. If the Plus is better, than I think I will consider an upgrade.
The Plus has an annual fee but you have a potential of earning more cash back. Judging by my spending pattern, the extra rewards start to pay for the annual fee if you spend $1000-1200 a month or more. If you spend more you should certainly consider an upgrade. Almost forgot, the annual fee is waved the first year.