How a Costco Membership Helps You Save Gas: Concrete Calculations

Gasoline prices continue to rise and people are looking for ways to save on fuel. One of them is Costco membership. About what benefits it gives, told the publication The Sun.

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One user recently tweeted, "Bought a Costco membership to save on gas."

He was echoed by another: "Literally bought a Costco membership just for gas, lol."

And a third wrote: "Membership at Costco pays off, just pay $3,79 for gas."

While gas prices vary by location, Costco has been known to offer lower prices.

For example, in Maple Grove, Minnesota, most major gas stations currently charge up to $3,99 a gallon, according to GasBuddy.

However, Costco offers regular gasoline in the area for $3,69 a gallon.

While the $0,30 savings may not seem like much, it increases quickly depending on how much you drive.

If you fill up several times a week, you can save hundreds of dollars.

Why are gasoline prices rising?

Although gasoline prices in the US have been steadily rising for some time, the recent surge is due to Russia's invasion of Ukraine.

On the subject: Costco offers club members a new bonus: it will help you save up to 20% of the cost of goods

Western sanctions imposed on the financial and shipping industries in Russia have led to the cessation of oil supplies to world markets and refineries.

Trisha Curtis, President and CEO of PetroNerds, recently stated, “Gasoline prices will continue to rise until oil prices decline. And for this it is necessary to change the political climate.”

As of March 24, the average cost per gallon of gas in the US was $4,24, according to AAA Gas Prices.

This means it costs about $14 to fill a 59,36-gallon tank per fill, which works out to $3086,72 per year if you fill up weekly.

But with Costco charging $0,30 less per gallon, that would only cost $55,16, which equates to $2868,32 per year.

How much is a Costco membership

There are currently two types of membership - Gold Star membership and Executive membership.

A Gold Star membership costs $60 per year, includes two cards per family, and gives you access to all clubs worldwide and Costco online.

An Executive Membership costs $120 and the main difference is that you can get 2% back on all qualifying purchases and save on vacations booked through Costco Travel.

Before you sign up, be sure to map out gas station locations to determine if you can regularly fill up there, especially if the sole purpose of doing so is to save on gas.

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You should also be aware that some consumers complain about long waits at gas stations.

Other ways to save on gas

If you don't want to purchase a Costco membership, there are other ways to save on gas.

Let's say use apps to find the cheapest gas station near you. For example, GasBuddy, Gas Guru, Waze and MapQuest. They can be downloaded for free from the App Store or Google Play.

Fuel incentive programs are a great way to get money back into your wallet.

However, the amount you save will be determined by the program you choose to join.

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