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Clark Howard's Gas Calculation Cheat Sheet

Friday, May 2, 2008

ATLANTA -- Here is Clark Howard's cheat sheet to calculate whether it's worth it to drive out of the way for cheaper gas:

  • Figure out how much you will save per gallon. For instance, if station a charges $3.699 and station B charges $3.549, you will save 15 cents per gallon.

  • Figure out how many gallons you need to fill the tank.

  • Multiply the gallons needed by the amount you save per gallon for a total savings. For instance if you need 15 gallons of gas and you’ll save 15 cents a gallon, your equation should look like this: 15 X .15= $2.25

  • Figure out how many miles you have to drive to get to station B. In other words, exactly how far out of the way is station B?

  • Multiply the answer to question #4 by .54 (That’s because AAA says the cost of operating a vehicle is 54 cents per gallon.) In our example, if go five miles out of the way to get cheaper gas at station B, your equation should look like this: 5 x .54=2.70

  • Calculate question #3 minus question #5 for total net savings. In this case, it is 2.25-2.70=-.45. In other words it will cost 45 cents to drive 5 miles to save 15 cents a mile on gas.

    • Copyright 2008 by WSBTV.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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