Americans are currently facing a major issue at the fuel pumps, with gas prices hitting an average of $3.88 per gallon. However, some states are seeing even higher prices, with rates soaring above $6 per gallon. Luckily, there is an innovative app available that can assist users in finding more affordable fuel options. This navigation tool, known as Waze, utilizes crowdsourcing to provide real-time updates on gas prices along specific routes.
To access this feature, users simply need to select the ‘Where to’ option within the app, which will then display a gas icon showing nearby gas stations and their respective prices per gallon. Before using the Gas Station feature in Waze, it must first be activated in the app’s Settings. This allows users to customize their preferences, such as selecting their preferred gas type, brand, and preferred distance from their current location.
Once activated, users can easily view nearby gas stations, along with their distances, addresses, prices, and the last time the price per gallon was updated. This convenient feature proves invaluable when trying to save money on fuel purchases.
The recent surge in gas prices can be attributed to various factors, including cuts to oil supply by major players like Russia and Saudi Arabia, as well as the adverse effects of hot weather conditions on refinery output within the United States. Unsurprisingly, California currently holds the title for the highest gas prices in the nation, with an average of $5.17 per gallon. In the remote Mono County, which borders Yosemite National Park, prices can exceed $6 per gallon. On the other end of the spectrum, Texas offers a more affordable average price of $3.46 per gallon, a slight increase from the previous month’s rate of around $3. Mississippi and Louisiana boast the cheapest gas prices at $3.32 and $3.42 per gallon, respectively.
While gas prices have seen a steady increase in the past month, rising by an average of 28 cents, they still remain significantly lower compared to the peak average of $5 per gallon experienced in June 2022, only a few months following the Russian invasion of Ukraine. Last year at this time, the national average was at $4.28 per gallon.
According to AAA spokesperson Andrew Gross, it is uncertain whether gas prices will continue to rise or begin to decline. The summer heat that led to reduced refinery production has subsided, which may contribute to a potential stabilization in prices. However, the cost of oil remains a determining factor in this equation.
Economists predict that ongoing fuel price hikes are likely to cause inflation to increase throughout August. AAA has previously stated that the primary culprit behind these rising prices is the higher cost of oil. As oil prices approach $90 per barrel, there is even speculation that it may surpass this threshold. In fact, analysts from Goldman Sachs have predicted that oil could reach $100 per barrel by the end of this year, largely due to production cuts implemented by the Organization of the Petroleum Exporting Countries (OPEC).
In conclusion, the introduction of the Gas Station feature on Waze provides a practical solution for drivers seeking affordable gas options. By leveraging the app’s real-time updates and crowdsourced information, users can save both time and money. As gas prices continue to increase, it is essential to stay informed and use reliable tools like Waze to navigate the fluctuating fuel market efficiently.
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