Gas prices: Fuel type can save you money at the pump

FOX Business Flash top headlines for March 28

Here are your FOX Business Flash top headlines for March 28.

The national average price for a gallon of regular, mid-grade and premium gasoline stabilized over the weekend. 

As of Monday, the national average for a gallon of regular gasoline dropped to $4.24, down from a high of $4.33 on March 11, according to AAA. However, Monday's national average is still up over 60 cents compared with a month ago. 

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If your car needs higher octane fuel, you'll be shelling out a "considerable" amount more, according to AAA spokesperson Andrew Gross. 

AAA’s Monday data for the national average of a gallon of gasoline.  (AAA )

Currently, the national average for a gallon of premium gasoline costs $4.91, which means "you're paying almost 70 cents more per gallon … that's considerable," Gross told FOX Business. 

Gross said premium-grade gas is the most expensive because it's a higher octane fuel, which costs more to refine. 

Most people either opt for regular or premium gasoline, according to Gross. However, even though premium might sound better, it isn't actually doing some drivers any favors. 

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If your owner's manual doesn't specifically state that you need premium fuel for the car, then you should stay away from it, especially in today's market, according to Gross. 

Some motorists assume it will help their engine run better or help with fuel efficiency, but that's not the case, according to Gross. 

"If your car can run just fine on regular gas, you're not helping it out, and you're just costing yourself money," he said. 

For instance, if you have a 20gallon gas tank then you're pumping in approximately $14 more than you should, according to Gross. 

The only time you are really "stuck" is when your manual says you can only use premium gas, which is generally the case for higher-end models. 

In that case, you have to use premium gas because "if you try using the lower octane gas in an engine that's optimized for premium, you could end up damaging your engine," he added. 

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