Is there a best or worst day to find gas? This study may have found the answer

Seven is often seen as a lucky number, but not this time. The consumer price index is up 7% in December from December 2020, that's the highest rate of annual increase in inflation in almost 40 years since June of 1982. Even core prices, if you exclude volatile items like food and energy, Even then still the fastest pace of increase in almost 31 years. And what today's report tells us, I think just validates what millions of households already knew and that is inflation is a problem. Prices are going up and they're going up pervasively and they're going up at a rate that outpaces growth and household income. In many cases, food prices are up over 6%. Energy prices up over 29 And shelter costs, which tend to lag already up over 4% year over a year. And I think that's the one to watch in the months ahead. The Federal Reserve had what I would describe as a very lazy faire attitude toward inflation in 2021 and only at the end of the year did they really get the memo that this is a problem. And as a result, we've seen them pivot very quickly in terms of how they view it and how they plan to address it specifically. We will see the Feds start to raise short term interest rates. They're likely to start that as soon as March and around that time or shortly thereafter, they will not only stop buying bonds and adding to their portfolio, they will start letting the size of that portfolio shrink, letting it run off. That has the effect of pulling liquidity out of the system. So even though that happens behind the scenes, I think that's arguably the more significant item. Both of those will slow the demand side of the economy over time, but they're not going to address nor fix the issues with the supply chain.

Can you really save money at the gas pump just by filling up on a certain day? A recent study by GasBuddy, which tracks gas prices across the country, determined the best and worst days of the week to fill your tank and save the most money.That study found that Monday is the best day of the week to buy gasoline in 17 states, which is on par with the company's previous studies in 2017, 2018 and 2019.A new finding, however, is that Friday was one of the best days to buy gas in 2021."This trend refutes 2019’s results, which placed Friday as one of the most expensive days of the week at the pump, and can perhaps be attributed to the ongoing COVID-19 pandemic and the emerging prominence of work from home lifestyles," a news release from GasBuddy says.The study determined that Thursday was the worst day of the week to buy gas in 28 states. "In 2021, the middle of the week became far more expensive to fill up than on Mondays or Fridays," the release says. "While the weekend previously held the title for the most expensive prices, Wednesday now follows Thursday as the most expensive day to fill up." “When it comes to saving money at the pump, Monday becomes more than the dreaded end of the weekend. GasBuddy analyzed gas price data and found that the first day of the workweek offers the lowest average gas price in 17 states, making it yet again the best day to fill-up,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Though there is variation in daily gas prices across different states, the consensus is that filling up at the beginning or end of the workweek, on Monday or Friday, is the best way to save money."If you can't make it to a gas station on Monday, De Hann said Sunday is the next cheapest day to fill up."But even if you can’t always time your fill-ups, the golden rule is to always shop around before filling up," De Haan said. Analysis of gas prices in individual states can be found here.

Can you really save money at the gas pump just by filling up on a certain day?

A recent study by GasBuddy, which tracks gas prices across the country, determined the best and worst days of the week to fill your tank and save the most money.

That study found that Monday is the best day of the week to buy gasoline in 17 states, which is on par with the company's previous studies in 2017, 2018 and 2019.

A new finding, however, is that Friday was one of the best days to buy gas in 2021.

"This trend refutes 2019’s results, which placed Friday as one of the most expensive days of the week at the pump, and can perhaps be attributed to the ongoing COVID-19 pandemic and the emerging prominence of work from home lifestyles," a news release from GasBuddy says.

The study determined that Thursday was the worst day of the week to buy gas in 28 states.

"In 2021, the middle of the week became far more expensive to fill up than on Mondays or Fridays," the release says. "While the weekend previously held the title for the most expensive prices, Wednesday now follows Thursday as the most expensive day to fill up."

“When it comes to saving money at the pump, Monday becomes more than the dreaded end of the weekend. GasBuddy analyzed gas price data and found that the first day of the workweek offers the lowest average gas price in 17 states, making it yet again the best day to fill-up,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Though there is variation in daily gas prices across different states, the consensus is that filling up at the beginning or end of the workweek, on Monday or Friday, is the best way to save money."

If you can't make it to a gas station on Monday, De Hann said Sunday is the next cheapest day to fill up.

"But even if you can’t always time your fill-ups, the golden rule is to always shop around before filling up," De Haan said.

Analysis of gas prices in individual states can be found here.

Is there a best or worst day to find gas? This study may have found the answer

GET NATIONAL BREAKING NEWS ALERTS

Top Picks