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Finding Lower Gas Prices Online

April 25, 2008

By MoneyRates Team | Money Rates Columnist

Analysts at CIBC World Markets are forecasting gas prices as high as $7 a gallon within four years with estimated crude oil prices of over $200 a barrel. The shocking scenario is even more alarming because CIBC analysts were mocked for their forecast a couple of years ago of $100 a barrel (when the current prices were below $40) and it turns out their forecast was accurate. Even at today's gas prices a $100 fill-up will not be an uncommon event for SUV owners so it is difficult to imagine the effect on the American consumer of prices double where they are today. Fortunately, there are a couple of sources on the internet for saving money at the pump by updating in real time the changes in local markets at gas stations. Analyzing gas prices in the ten largest cities in the United State reveals that consumers on average could save $0.12 per gallon at a station within 10 miles of their home by using an online resource. Several online gas price update sites are listed below:

Gaspricewatch.com - An interactive map allows visitors to scroll around their town and to see current prices. The site relies on spotters to update prices in local markets. Most prices seem to have been updated within 48 hours.

Gasbuddy.com - This site is menu-driven and visitors can find the lowest gas price in their metropolitan area through the menu system. The basic menus only include stations with prices updated within the last 24 hours.

Fuelmeup.com - This site is also menu-driven and will report the lowest gas prices in your area sorted by city, state, or zip code. The site gives visitors the address of the gas stations, but does include an interactive map for easy navigation help.

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