Finding Emergency Money Can Be a Gas Station Away

The search for an emergency fund

Millions of Americans are looking for emergency money and one of the best ways to do it is to look at your local gas station. Gas prices are inflated and contribute a major portion of monthly expenses for millions of Americans. For anyone looking to cut back, here are some inside secrets gas station owners keep hidden.

How prices at a gas station go up

On average, gas stations earn about 10 to 15 cents per gallon of gas sold. When the price of oil is highest, gas stations earn the least. Though that is contrary to what you would think, the reason is because when fuel increases in price, gas stations have to compensate to remain competitive. They have to bring their prices down and as a result earn a lower return on the dollar.

Another large expense in the world of a gas station is the fees credit card companies charge. On average the fees add up to about 2.5% of the overall purchase. For example, if gas is $2 per gallon, the gas station pays credit companies 5 cents a gallon. If gas goes up to $3 per gallon, that fee goes up to 7.5 cents a gallon—more than half their profit.

The question of whose gas is better for an engine

A lot of gas stations profess to have the "best" gas for an engine. Chevron stations claim that their gas is made with "Techron", a chemical that cleans your gas tank and helps cut back on pollution. Additives can help to clean your engine and bring down the amount of exhaust, but the reality is that all gas, regardless of the price, has a cleanser. Since 1994 government regulations have required detergents be added to gasoline to help unclog fuel injectors. AAA spokesman Geoff Sundstrom confirmed that by stating, "There is little difference between brand-name gas and any other. Saving emergency money is easy to save for consumers willing to consistently use regular gas and forgo the premium." … click here to read the rest of the article titled “Finding Emergency Money Can Be a Gas Station Away“