Step 1

Why

 

should you inconvenience yourself by tracking gasoline futures prices? You should track these prices because it directly impacts you every time you fill up your car at the gas pump. The futures prices are the driving force behind the prices at the pump, so if you track these futures prices you'll be ahead of the game.

Step 2

How can you track gasoline futures?

Websites

 

like Bloomberg and CNN Money both have commodity futures pages where you are able to track these prices. The prices are delayed by about 30 minutes or so. On this same screen you'll be able to also view the prices of natural gas, crude oil, heating oil, and other commodities. I have included links to both of these internet sites in the resources below.

Step 3

How

 

long does it take for these changes to hap at the pump? More often than not if gasoline futures trade significantly lower one day on the market, you can expect prices at the pump to move lower within 10 days or so. Plan your purchases accordingly and you should be capable of saving some serious money at the pumps.

Step 4

Why

 

is the price of gasoline futures so different than the cost at the pump? For instance, the price of unleaded gasoline futures may be $2.50, but the price at the pump may be $3.40. The difference here is largely due to taxes. In general it can be expected that the average pump price should be somewhere between 70 and 90 cents above the futures market price.