As gas prices soar to alarming heights, electric vehicle manufacturers see this as a time to shine.
What is the real cost of ownership when it comes to electric cars? You do not need to fill them with gas, but they need a source of energy. And it’s not free. Also, the infrastructure isn’t there yet, so you may have to drive longer to find a charger. Tap or click here to review our report before deciding on an EV.
With national gas prices averaging about $ 4.25 a gallon, all the savings you can find are beneficial. How about you skip the conventional gas stations and fill up at one of the big warehouse clubs? Does the lower fuel price compensate for membership fees?
The cost of membership
Large stores such as Costco and Sam’s Club charge an annual membership fee to shop for their merchandise. For Costcothe price is $ 60 for a standard Gold Star membership or $ 120 for an Executive.
Sam’s Club charges $ 45 for standard membership and $ 100 per year for Plus membership.
These stores sell everything from houseplants to big screen TVs. With membership you can buy gas from both major retailers at lower prices than you will find at traditional gas stations.
“Gas prices in warehouse clubs are almost always lower, ranging from 5 cents to 25 cents less per gallon,” said Patrick De Haan of GasBuddy. Consumer reports. “And when prices go up, they keep their prices longer.”
You can save, depending on some factors
According to the US Department of Transportation’s Federal Highway Administration, Americans have driven more than 2.9 trillion miles in 2020. If you divide that number by the number of licensed drivers this year – about 228 million, you get an average annual driving per person of 12,724 miles.
The most popular car in the US, the Ford F-150, gets a combined 25 MPG, according to the EPA. The driver of this vehicle uses an average of 509 gallons of fuel per year. At $ 4.25 per gallon, this runs to $ 2163.
Saving just 20 cents a gallon of gasoline in large box pumps will save you about $ 102 a year, offsetting the cost of your membership. If you tend to drive more than the national average, you will save even more.
Consider the distance
If you live far from Costco or Sam’s Club and need to drive extra miles to increase fuel, your savings will decrease and you could spend more on fuel by the end of the year.
You may also run into a queue at the club’s storage pumps, and as we all know, time is money. If you like to buy in bulk, you can refuel and shop. If you make smaller purchases, the cost of membership may not be worth it.
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Is it worth paying for a Costco or Sam’s Club membership to save on gas?
