Pouring all of your money into your gas tank can be disheartening to say the least. After all, there's nothing like paying to sit in traffic, whether you're on your way to work or simply trying to run errands in your free time. Drivers who are fed up with paying a lot for gas can find some relief at the pump – and put their funds toward things that really matter.
Gas prices keep falling
The good news just keeps rolling in for drivers: Gas prices continues to fall steadily across the country. A recent report from AAA stated that the national average for gas has now remained below $3 per gallon for more than 16 days, falling to $2.89 per gallon by Nov. 17. Additionally, more than 75 percent of gas stations across the U.S. reported prices lower than $3.
So with fuel expenses dropping, what should you do with all of that extra cash? Some people will justifiably be using that money to pay back auto loans and other debts, while some may be saving up so they can buy a used car. Others, however, will be using those funds for their holiday spending, according to a recent study from the National Association of Convenience Stores.
Money in your pocket
The report noted that for every penny the average gas price drops, Americans save about $3.7 million per day on gas. Many of these drivers believe fuel expenses will keep falling, at least in the immediate future, so they have confidence to go out and spend their extra cash. Because of the proximity of the holidays, many of the funds will be put toward shopping and festivities.
"Our surveys over the past two years show that gas prices clearly play a major role in consumer sentiment about the economy," said Jeff Lenard, the NACS vice president of strategic initiatives. "However, declining gas prices alone may not take consumer sentiment much higher in the short term. It may take similarly positive news about the economy as a whole before the majority of Americans feel positive about the economy."
A few savvy drivers may want to use that bit of extra cash to get a head start on winter maintenance. That's certainly doable with some help from the Total Car Care Center at New Jersey State Auto Auction. The garage caters to the public and can address any issues cars may have.