CHARLOTTE — If you’ve ever wondered if driving a few miles out of the way to buy cheaper gas really saves you money, Action 9 investigator Jason Stoogenke has the answer.
He says it depends.
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Stoogenke says you have to do some math, and he has a formula you can use.
According to multiple websites, here’s how to figure it out:
First, write down these five numbers:
A: How many gallons you need.
B: The miles per gallon your car gets.
C: How much the closer (more expensive) gas cost.
D: How much the farther (less expensive) gas cost.
E: The distance between the two.
Here’s an example:
A: 10 (gallons)
B: 25 (mpg)
C: $4.60
D: $4.40
E: 4 (miles)
Here’s the equation:
(A x C) – ((A x D) + ((E/B) x C))
Plug in the numbers:
(10 x 4.60) - ((10 x 4.40) + ((4/25) x 4.60))
Remember to do the math in paratheses first:
(46) - (44 + (.16 x 4.6))
46 - (44 + .74)
46 - 44.74
1.26.
In the example, you’d save money ($1.26 total).
Click here to use a calculator tool that will do the math for you. It also factors in your time and wear and tear on your car.
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