Gas prices remain high, with no signs of coming down.
The national average reached $4.09 per gallon on Tuesday, according to AAA data. For the first time in history, the national average was above $4 per gallon for the entire month of August, making it the most expensive August on record.
This comes amid six months of disruptions and closures for the Strait of Hormuz, a passageway for roughly one-fifth of global oil and liquefied natural gas. While the U.S. has declared the strait open, it made retaliatory strikes on Tuesday due to Iranian attacks on commercial ships.
If you're interested in squeezing out savings on gas, CNBC Select discusses a few credit cards and rewards programs that can help you save on refueling, alongside some lesser-known options.
Save on gas with credit cards
Senior reporter Jason Stauffer can answer your questions about how to make the most of your credit cards in his weekly Points Pro column. Submit yours here.
Credit cards that earn rewards on gas
One of the easiest ways to save on gas is by using the right gas rewards credit card. This route doesn't require extreme couponing or changing your habits; instead, your card will earn rewards on your gas and/or EV-charging purchases.
PenFed Platinum Rewards Visa Signature® Card
The PenFed Platinum Rewards Visa Signature® Card offers one of the highest rewards rates on both gas and EV charging, earning up to 5X points with no spending cap. For example, if you spend $200 per month on gas and charge it to the PenFed Platinum, you could earn 12,000 points over the course of the year (roughly $120 in gift card value).
This no-annual-fee card also earns a competitive 3X points at supermarkets (including most Target and Walmart locations), restaurants and on TV, radio, cable and streaming services. The points you earn can be redeemed for travel, gift cards or merchandise.
One caveat with this card is that it requires a PenFed membership, but anyone can apply. To qualify, simply open a Regular Savings or Premium Online Savings account and deposit a minimum of $5.
PenFed Platinum Rewards Visa Signature® Card
Rewards
5X points on gas purchases at the pump and electrical vehicle charging stations, 3X points on purchases at the supermarket (including most Target and Walmart locations†), restaurants, and TV, radio, cable, streaming services
Welcome bonus
15,000 points when you spend $1,500 in first 90 days
Annual fee
$0
Intro APR
0% introductory APR for 12 months on balance transfers made in the first 60 days after account opening.*
Regular APR
17.99% variable on purchases; 17.99% non-variable on balance transfers
Balance transfer fee
3%
Foreign transaction fee
None
Credit needed
Good/Excellent
Terms apply.
Pros
- High 5X points on gas at the pump and 3X on supermarket purchases
- No bonus category activations
- Good special financing offer on balance transfers
Cons
- 3% balance transfer fee
*0% introductory APR for 12 months on balance transfers made in the first 60 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
Citi Strata Premier® Card
The Citi Strata Premier® Card earns 3X ThankYou® Points on gas and EV charging stations, also with no spending cap. That's a lower rate than the PedFed Platinum, but its additional travel-related perks may push the card in your favor.
The Strata Premier earns 10X points on select travel booked through cititravel.com and the same 3X rate at restaurants, supermarkets, air travel and general hotel purchases. Citi ThankYou® Points are a pretty valuable currency, especially if you use transfer partners. You can transfer your Citi points at a 1:1 ratio to American Airlines, JetBlue, Choice Privileges hotels and more, and for potentially greater value (over 1 cent per point).
Note that the card charges a $95 annual fee, which can be counterintuitive if you're looking to cut costs across the board. You can, however, cover this yearly fee with the Strata Premier's $100 Annual Hotel Benefit.
The Citi Strata Premier® Card has competitive rewards rates and unlocks access to all of the Citi ThankYou® transfer partners, which boosts the value of your points.
- Unlocks point transfers to all of the Citi ThankYou® partners, including Emirates Skywards, Choice Privileges, Flying Blue and more
- Generous bonus spending categories include dining, supermarkets, hotels and flights
- Valuable welcome bonus
- Has an annual fee
- Car rental coverage is secondary, not primary
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
- Earn 10 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on CitiTravel.com.
- Earn 3 Points per $1 on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations.
- Earn 1 Point per $1 spent on all other purchases
- $100 Annual Hotel Benefit: Once per calendar year, enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com. Benefit applied instantly at time of booking.
- No expiration and no limit to the amount of points you can earn with this card
- No Foreign Transaction Fees on purchases
Balance transfer fee
Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred (see rates and fees) was already a great travel card, and now it earns an unlimited 3X points on gas and EV charging. That's on top of 3X points on dining, vacation homes, streaming services and online groceries (excluding Walmart, Target and wholesale clubs).
For a $95 annual fee, the card comes packed with benefits, including a $100 Chase Travel℠ hotel credit and up to $120 in application fee credit every four years for NEXUS, TSA PreCheck or Global Entry. Better yet, if you're renting a car, you're covered by primary car rental insurance, alongside roadside assistance, travel and emergency assistance coverage and more.
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections, flexible rewards and more.
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- Annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase TravelSM, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
- Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Emergency Evacuation and Transportation and more
- Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for 12 months when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck® or NEXUS application.
- Transfer points to leading airline and hotel loyalty programs
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Gas rewards programs
If you're happy with the credit cards you currently have, you could sign up for a gas rewards program instead. While you'll have to purchase gas at certain stations to earn the perks, it's a good way to shave a few cents off your fuel up and earn additional rewards.
earnify by BP
The earnify™ rewards program is for BP and its subsidiaries, including Amoco and AMPM. When you pay through the earnify app, you'll receive 5 cents off per gallon on all fill-ups, while earning 1 point per gallon and 2 points per dollar spent inside stores.
The points you earn can be spent on your choice of convenience store items or to receive extra savings per gallon at the pump. Plus, new users will receive a 250-point welcome offer when signing up.
If you're an Amazon Prime member, you can link your Amazon and earnify accounts and save 10 cents per gallon instead of just 5.
earnify™
Savings
When you pay through the earnify app, you'll receive 5 cents off per gallon on all fill-ups, while earning 1 point per gallon and 2 points per dollar spent inside stores.
Rewards Redemptions
Redeem your earned rewards for your choice of convenience store items or additional savings per gallon at the pump.
Features
Enjoy a 250-point exclusive welcome offer that can be redeemed for snacks, drinks, fuel savings and more. You'll also get access to ongoing earnify™ rewards, special offers, discounts, and more for additional savings.
App availability
Available in both the Apple App Store and the Google Play store
Price
Free
Exxon Mobil Rewards+
If Exxon is your preferred gas station, Exxon Mobil Rewards+™ program members earn at least 3 cents per gallon in points on gas and 2 cents in points on every purchase of snacks, drinks, car washes and more.
If you purchase Synergy Supreme+™ premium gas, you'll get 6 cents per gallon back. AARP members and Frequent Filler members (or those who buy 100 gallons or more per month) can earn an additional cent per gallon in rewards when they link their accounts.
The points you earn can be redeemed for fuel and in-store discounts at participating stations.
Exxon Mobil Rewards+™
Savings
Exxon Mobil Rewards+™ program members earn at least 3 cents per gallon in points on gas and 2 cents in points on every purchase of snacks, drinks, car washes and more. If you purchase Synergy Supreme+™ premium gas, you'll get 6 cents per gallon back
Rewards Redemptions
The rewards you earn via the Exxon Mobil Rewards+™ program are worth one cent each, so100 points is equal to $1 in rewards. You can redeem them for either convience store purchases or additional savings at the pump.
Features
The Exxon Mobil Rewards+™ program offers four different ways to collect points: Use mobile pay in the app at the pump or in the store, scan your member ID, enter your Alt-ID (phone number) or use your member card with every purchase.
App availability
Available in both the Apple App Store and the Google Play store
Price
Free
Shell Fuel Rewards
Another widely available gas rewards program to consider is Shell Fuel Rewards. This program has three tiers: Silver, Gold and Platinum. Silver is the default and saves you 3 cents per gallon; Gold saves you 5 cents, and Platinum saves you 10 cents.
To qualify for Gold, you'll need six regular fills or three Shell V-Power NiTRO+® Premium Gasoline fills within three months of membership. Platinum requires 12 regular fills or six premium fills in the same timeframe. Each tier stacks on additional benefits, and you can redeem your rewards for more fuel savings or in-store purchases.
Shell Fuel Rewards
Savings
The Shell Fuel Rewards program has three tiers: Silver, Gold and Platinum. Silver is the default and saves you 3 cents per gallon, Gold saves you 5 cents, and Platinum saves you 10 cents.
Rewards Redemptions
The earned Shell Fuel Rewards can be used to gives cents-off gas discounts, rather than earn points you spend on additional purchases. Since the program offers various rewards, additional discounts often stack, to earn you greater savings.
Features
The Shell Fuel Rewards program allows you to earn on more than just gas or convenience store purchases, you can also earn savings on food, online shopping and more.
App availability
Available in both the Apple App Store and the Google Play store
Price
Free
Chevron Texaco Rewards
As a member of this rewards program, you'll earn 5 points per gallon at both Chevron and Texaco stations for a total savings of 5 cents to 50 cents per gallon. Currently, the program is offering a limited-time offer: New members can save $1 per gallon on up to five fill-ups at qualifying locations through Sept. 30. Just note that the offer expires 90 days after creating your account.
There are certain products in store that can earn reward points, but the majority of your rewards are likely to come from gas purchases. The rewards you earn can then be redeemed for discounts on your future gas purchases. You can also combine your points with other eligible programs offered at local sites, helping you boost your savings.
Chevron Texaco Rewards
Savings
Earn 5 points for each gallon of Chevron or Texaco fuel, and select in-store items at participating stations can earn varying point totals.
Rewards Redemptions
You can redeem your rewards for fuel discounts of up to 50¢ off per gallon at participating stations.
Features
You can link your Albertsons forU™ or Safeway forU ™ programs, which will allow you to combine any available fuel rewards for larger savings. You'll also receive special rewards for birthdays or after hitting certain milestones within the app.
App availability
Available in both the Apple App Store and the Google Play store
Price
Free
Additional ways to save on gas
Gas credit cards and rewards programs are great ways to help you save extra money on fuel, but there are a few other ways to cut costs.
If you're a member of a wholesale club like Costco or Sam's Club, buying gas there can be cheaper than elsewhere; gas at warehouse stations is often 5 to 25 cents cheaper than at traditional stations. This is a great way to get extra value from a warehouse club membership if you're on the fence about it. And Amazon Prime members can take advantage of 10 cents off per gallon through Amazon's partnership with earnify™.
If you're on the road and just trying to find the cheapest gas in your area, try using the GasBuddy app. The app will show you roughly 50 of the closest gas stations, and you can sort your options by price, distance or both. You can even search by brand, which is helpful if you belong to a certain gas rewards program.
Gasbuddy App
Features
Gasbuddy helps you find the cheapest gas near you in one easy-to-use app. It's helped people find the best gas prices over 900 million times and save over $3.1 billion at the pump.
App availability
Available in both the Apple App Store and the Google Play store
Price
Free
There's also a chance that you're putting the wrong type of fuel in your car and overpaying as a result. Most U.S. cars today are designed to use the lowest grade of available gasoline (often 87 octane), and according to research from AAA, there's likely no additional benefit to using a higher grade of gasoline. So, if you've been putting mid-grade or premium gas in your car, double-check your car's handbook to make sure it needs it.
FAQs
How can I save on gas with my driving?
Some fuel-efficient driving tips include accelerating slowly, keeping your speed relatively steady and making sure your tires are properly inflated.
How do I know what type of gas to use?
While different car engines are designed to use specific octane levels of fuel, many standard cars are made to take regular 87 octane gas. You should consult your car's manual for specifics.
Does idling your car really burn that much fuel?
Yes, according to the U.S. Department of Energy, it's more fuel efficient to turn off your car and restart it if you will be waiting longer than 10 seconds.
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