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April 3, 2011

Gas is about $3.43 at the gas station closest to us (which also happens to be the cheapest place to get it in town). I hate it. Every time I drive by the station I nearly wreck trying to see the new prices for the day. It seems like prices are rising a couple times a day!

A few weeks ago I read somewhere (I can’t recall where) that there is a “best day of the week to buy gas” day of the week. I don’t really know if it is true or not. This site said it is. Who knows if they know what they’re talking about. But, it got me thinking, and J and I have decided on a “plan of gas consumption” based on what I read and thought about. I’ll explain the simple plan, and the two benefits.

The Plan: We will only purchase gas on Wednesdays. But we will buy gas every Wednesday, whether we need it or not. Every Wednesday, no matter how much gas we have, all year, forever.

The Benefits:

  1. If gas is cheaper, on average, on Wednesdays (over the course of time) then we will have purchased all of our gas cheaper than if we bought gas on any random day of the week throughout the year. But, of course, that is only true if gas is really cheaper on Wednesdays. And I’m not sure if that is true.
  2. As far as our budgeting goes, this will even out the gas bill! Instead of getting gas when the tank is empty, and thus experiencing spiking gas bills during the month, we will be getting a more even amount of gas each month. Any time we can get on some kind of “equal payment” option with a monthly bill, we do it. This is kind of like that. Now, each week will being a pretty regular amount of gas, and we should be able to narrow in on what our gasoline bill is each month, and then budget more exactly.

Now, if gas prices is really random, or cheaper on some other day, we have a problem…

But no matter what, rather than paying $300 a month for gas one month, then $100 the next, we can just get used to paying $200 a month every month and know what to budget…

2 Comments leave one →
  1. Trapper permalink
    April 8, 2011 5:53 am

    First of all, I love the blog. I enjoy reading and studying up on personal finance too, and I love these perspectives. Secondly, the gas price thing is something I had never really thought about. However, last Thursday I filled up on the way to work, and noticed on the way home that the price had gone up eighteen cents at the same station (this is before you posted this.) After reading your post, I thought about this again when my tank was about 1/3 full on Thursday. I filled up in the morning, and passing the station again in the evening, it had gone up seventeen cents! So my two week study isn’t comprehensive, but Thursday mornings look like the time I will be filling up. It seems to spike on the weekends. Also, I have heard that stations change their prices around 10 or 11 in the morning, but not sure if that is true or not. Either way, I like the idea of keeping track of fuel expenditures weekly for budgeting purposes.

  2. April 10, 2011 5:10 pm

    Thanks Trapper! We got ripped last week as gas actually went up on Tuesday instead of Wednesday, so we got hammered by 6 cents a gallon. So now we’re switching to a Tuesday fill up. Which is better, since I have a little more time on Tuesday anyway… 🙂 Nice to hear from you!

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