BOSTON -- Fuel customers’ pursuit of convenience may be coming at the expense of their pocketbook.
That’s one of the conclusions of a recent survey by GasBuddy of its members. GasBuddy determined that fuel consumers could be overpaying for gasoline by at least 20 cents per gallon (CPG) in part because of how they buy it, and also because of some laziness and procrastination.
GasBuddy identified a few behaviors that lead to overpaying for gas. They include ...
Eighty percent of respondents to the GasBuddy survey said they had a particular gas station they regularly visit for fuel, with 38% choosing the site because of its convenience. Half of the survey respondents said they pick a fuel site based on location, and 16% choose one based on its ease of ingress and egress.
Thirty-seven percent of consumers said they wait to fuel up once their gas tank is only one-quarter full, and another 28% wait for the gas warning light to come on to trigger a purchase. Meanwhile, 35% report having run out of gasoline in their delay of a purchase.
“If you’re waiting until the last second to get gas, there’s a big chance you’re going to panic and pull into the first station you see without checking a price and risk filling up at an expensive station,” said Patrick DeHaan, head of petroleum analysis for Boston-based GasBuddy. This habit can cost urban drivers the most: GasBuddy research has found that shopping around for the lowest price could save more than $60 per month in fuel costs.
Gasoline prices are somewhat higher compared to last year, but 8% of consumers continue to “treat” their vehicle with premium grade, and another 5% buy midgrade, even though the more economical regular grade is suitable. A 2016 AAA study estimated that consumers waste $2.1 billion per year on needlessly upgrading to premium gasoline when only 11% of vehicles require it.
Boston-based GasBuddy surveyed 2,600 of its members Feb. 7-10, 2018.
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