Gas is a necessity for people all across Canada, but because of high prices, it can be a burden to pay for it. Luckily, there are a lot of ways to save money at the pump – even for those in places like B.C. where gas prices have run rampant due to taxation and other factors.
Here are some tips to save some money on fueling up so you can spend the money on more important things (like food, which is also terribly expensive because of inflation!).
Key Takeaways
- The best ways to save on gas include comparing prices, strategically filling, driving a fuel efficient car, and making smart driving decisions.
- There are plenty of loyalty programs that can earn you points on gas, softening the blow of high gas prices.
- There are also credit cards with high rewards on gas that can earn you either points or cash back as well.
1. Compare prices
Using an app like GasBuddy or checking prices on Google Maps is probably the best way to find some immediate savings. You can quickly see all of the best prices in your area.
A general rule of thumb is that gas stations near the city centre or near highway offramps are more expensive. Anything that's more convenient will often cost more. If it's not too inconvenient, you'll save money by going somewhere a little further away from all the action.
Some other places that often have better prices include:
- First nations reserves (they are charged less in terms of tax and pass the savings onto you)
- Costco (membership required)
2. Choose the best time to fill up
Saving money when buying gas starts well before you put the gas nozzle into your car. You should always keep an eye out for gas pricing trends and buy when the price is low. If you hear news about a potential increase due to seasonal changes, worldwide events like war in oil-producing regions, or any other shortage, fill up the tank beforehand.
It's usually also better to fill up later in the evening as prices can go down, and before the weekend as gas stations may charge higher prices when people have the time to go out.
And if you see a good price while on the road but have some gas in the tank to spare, it may be good to gas up early to avoid seeing the needle creeping close to the "E" and filling up at a suboptimal price.
3. Practice the best driving habits
Driving smartly can save you a lot of money on gas as well. Some tips include:
- Avoiding heavy acceleration and braking
- Avoid speeding excessively
- Check your tire pressure and ensure it matches what the car manufacturer prescribes (you can find the optimal tire pressure on the inside edge of the driver's side door)
- Carry less unnecessary cargo when possible
- Combine trips and optimize the route you take between destinations
- Avoiding AC, heated seats, or other power-drainers when not needed
- Regular maintenance checks and fluid changes
You can also save money by carpooling and taking alternative forms of transportation. For instance, I bought an electric scooter and use it for short trips.
4. Fuel efficient cars can save a boatload of money
An electric car will save you the most by cutting out gas costs completely, but they typically have high purchase prices. A hybrid car can get extremely good gas mileage, as well. Other combustion-engined cars (smaller ones, not something like a Hummer) can also save you on having to fill up so often.
Another big tip is avoiding cars that require premium fuel. Some cars will run fine using regular as well. In B.C where I live, premium normally costs around 16 cents more per litre, so avoiding it can be a big money-saver.
Premium gas super tip: check Facebook groups
If you can't avoid paying for premium, check to see if your city or region has a "Premium Gas for Regular Price" Facebook group or equivalent. There are plenty of gas stations in Vancouver but sometimes, the gas stations run out of regular (87 octane) gas and will dispense the highest grade of gas (94 octane) for the same price.
I have notifications on so I can immediately make a dash to get my fill, especially since the markup between regular and premium is so high.
5. Take advantage of credit card rewards and discounts
This has become more popular as of late as more gas stations have begun partnering with credit card issuers to give a few cents off in an effort to entice new cardholders.
Here are some examples:
- Chevron, Fas Gas, Pioneer, and Ultramar are partnered with Journie Rewards, which saves you 3 cents per litre if you connect it with a CIBC credit card
- Shell and BMO have partnered up, so using one of their credit cards can get you 2 cents per litre off
- Petro-Canada and RBC are also linked, saving you 3 cents per litre if you use your RBC credit card or debit card
There are also some gas station rewards programs (which include Journie). You'll be able to earn loyalty points that can be cashed in for things like:
- Air Miles rewards (like flights) from Shell
- Groceries through the PC Optimum program from Esso
- Discounts on future fill-ups through the Journie or Petro-Points program
Earn rewards on a credit card
You can earn rewards on your credit card, too. Many credit cards have boosted earn rates (either more points or a higher percentage in cash back) when paying for gas.
For instance, the best gas credit card in Canada, the American Express Cobalt™ Card, earns you a significant percentage back on gas purchases.
Simply put, the Amex Cobalt is the best credit card in Canada. You’ll get the highest earn rates on both your grocery and restaurant spending that you can get, plus some of the best rates of return if you can maximize your points value.
- Points are worth up to 🐞 cents each when transferred to Aeroplan
- Up to 🐞 point welcome bonus (worth up to $🐞)
- Up to 🐞% rate of return on your food purchases
- 10 ways to redeem your points for max flexibility
- No income requirements
- 🐞 types of insurance included for free
- $🐞 annual fee
- Amex isn’t accepted at Costco or Loblaw banner stores
- Standard interest rates
6. Fuel up in the U.S.
If you live near the border, in the U.S. can save you a huge amount of money because of their different tax laws. I make trips and fill a couple jerry cans, as well, so I don't have to drive down as often.
For example, I just looked up gas prices where I live (Vancouver, B.C.) and I'm looking at a horrifying $2.12 per litre average. This is the worst in Canada, so you may have better prices where you live, but this really helps my argument.
About half an hour south (thank goodness I have a NEXUS card), I see prices of $4.56 just across the border. That works out to $1.64 per litre, a difference of over 23%. If I was to fill my 60 litre gas tank from empty, I would be saving $28. Now double that because I have 3 jerry cans that can hold about 60 litres. That's over $50 for a quick jaunt across the border – and you can save even more money if you buy some groceries while you're there.
Take note: You'll probably want a credit card with no foreign transaction fees or a U.S. dollar credit card to avoid paying extra when crossing the border.
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$25 GeniusCash + Delicious meal choices with fresh ingredients + Front-door delivery.FAQ
What is the best credit card to save on gas?
The best credit card for gas in Canada is the American Express Cobalt Card.
Do hybrid cars save money on gas?
Yes, hybrids can save money on gas because the car is powered more by the battery than the engine, which works to power the battery.
What are the best ways to save money on gas?
The best ways to save money on gas are to drive in a way that uses less gas, compare prices before buying, and use credit cards or loyalty programs that either save you a few cents per litre or earn you points to cash in on larger discounts in the future.
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Comments
Hey Wes,
This is great information, thanks for sharing! We'll keep it in mind for future updates.
Thanks Dean. Might be a good option for people who have a business centered around driving. Although the 4% cash back from the Scotia Momentum Visa Infinite would probably be less hassle and amount to more savings overall.