It's no secret that Canadians remain burdened by high fuel prices. The significant increases in gas prices have become an all-too-familiar occurrence for anyone who drives.
This past summer, the average price of gas in Canada reached record levels, with prices climbing to more than $2 per litre in some regions. The Canadian Automobile Association (CAA) South Central Ontario division published a survey in June 2022. It was found that 64% of respondents said rising fuel prices negatively affected their summer travel plans.
High fuel costs are compounding the financial pressures Canadians already face, especially as we move closer to the holiday season. But, there are ways to save money on gas. While avoiding a surge at the pumps is impossible, iCASH, a Canadian-based online loan provider, is sharing advice on ways to make the most of your budget by following these five steps:
1. Pay Attention to Gas Prices in Your Area
On Thursdays, just before the weekend, gas prices tend to rise, and then they tend to drop on Mondays. Fill up earlier in the week if you can. If you're unable to do this, try to be aware of the prices in your area so you can fill up when they're low. Prices can vary significantly from one gas station to the next, so it pays to shop around.
If you're planning a future road trip, you can also use resources, like Gas Wizard, to check predictions of gas prices in the upcoming months. Planning your trip around lower prices can help you save money.
2. Drive Smarter and More Efficiently
The way you drive can have a big impact on your gas consumption. Smart driving can greatly reduce your gas usage over time. Driving efficiently involves maintaining a consistent speed, avoiding sudden braking and acceleration, using cruise control on the highway, and planning your route so you can take the most direct one. Avoid idling whenever possible. Idling uses gas without getting you anywhere, so if you're going to be stopped for more than two minutes, it's best to turn off your engine.
3. Keep Your Car Maintained
You can save money on gas by ensuring your car runs as efficiently as possible. Keeping up with regular maintenance, such as oil changes and tune-ups, is a must. If you're unsure about what's best for your car or how to properly maintain it, consult your owner's manual or speak with a professional mechanic.
Additionally, make sure that your tires are properly inflated and that your engine is running at the correct octane level. Try to remove any extra weight, such as bike racks or cargo, when you are not using it. The heavier your car is, the more fuel it will consume.
4. Earn Rewards for Filling Up
Several loyalty programs offer gas rewards for their members. For example, PC Optimum members earn 10 points per litre when they fill up at Esso and Mobil stations. These points can then be redeemed for savings, not just for gas, but also for groceries, electronics, and more at Loblaws banner stores. Similarly, Petro Points members earn two points per litre of fuel, which can be redeemed for free gas, merchandise, travel, and more.
5. Consolidate Your Trips Into One
If you have errands to run or places to go, try to consolidate them into one trip instead of making several smaller ones. This will help you save money on gas and make better use of your time. Even if you can't consolidate all of your trips, try to group as many together as possible.
Cover Your Gas Bill and Other Essentials
Following these small, but effective tips can help in saving money on gas over time. However, if you're still struggling financially, there are other options available. Alternate lenders, like iCASH, provide fast and easy loans that can help you cover your gas bill or other essential expenses. The company prides itself on offering a simple and convenient application process, with instant online loans that can be approved and funded in as little as two minutes. Customers can use their loan for whatever they need and repay it over a flexible period of time.
As a responsible lender, iCASH ensures that all clients are never lent more than their repayment capacity. It's an extra measure that helps borrowers properly rebuild their credit and get back on financial track. With over 600,00 happy clients across Canada, iCASH is a trusted instant loan provider for when you need access to fast cash online.
To learn how you can borrow money 24/7, visit iCASH.ca or download the iCASH instant loans app.