Is a Costco membership worth it just for gas?

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• Anyone who has been to a Costco knows that the gas station is one of the most crowded areas, often with long lines that back up into the parking lot and cause snarls. A fair proportion of visitors are there just for gas

  60% confidence

• Costco has among the lowest gas prices

  60% confidence

• Crude oil prices remain high, even as they've fluctuated in recent days following the announcement of a 2-week ceasefire between the U.S. and Iran. The price for a barrel of crude dropped below $100 but then rose again, highlighting the volatility of oil markets and fluidity of geopolitical events

  60% confidence

• When prices are higher, that will tend to cause members to maybe take the extra mile that it might involve to get to the gas station because of the incremental value they see there

  60% confidence

• On average, you'll save about 20 cents per gallon by filling up at Costco

  60% confidence

• Using apps like GasBuddy, Google Maps, and Waze can save around 10 to 20 cents a gallon

  60% confidence

• About a third of Americans (31%) have made changes to their spending or savings habits because of higher gas prices, while another 35% say they will if prices remain high

  60% confidence

• 62% of Americans with a gas-powered vehicle agree that if gas prices remain high for a month or longer, it'll have a significant impact on their personal finances. That includes 28% who strongly agree

  60% confidence

• In Nashville, at time of writing, Costco comes in at 20 cents a gallon under the average

  60% confidence

• Generally speaking, we see about half of members that will shop at the gas station will also cross-shop at the warehouse

  60% confidence

• As of April 9, the national average for a gallon of regular gasoline went up 8 cents since last week to $4.16. The last time the national average reached that price was in early August of 2022

  60% confidence

• One of the simplest things is just shopping around at other gas stations. We tend to be creatures of habit a lot when it comes to filling our tank, in the same way we are when we shop for groceries, but that doesn't necessarily serve us too well, financially

  60% confidence

• At the time of our survey, 51% of consumers with a gas-powered vehicle said they've gotten gas in the past week before they needed it because of rising prices

  60% confidence

Data points we hold from this source