JACKSONVILLE, Fla. – It has almost been a week since gas prices started trending down.
But the pace of prices falling is still nowhere near how fast prices went up.
As of Thursday, according to AAA, the national average price for gas was $4.29 per gallon. Florida’s average price for gas was slightly lower, at $4.28 per gallon, while Georgia’s was $4.23.
While gas experts do believe these prices could drop even more if oil prices remain where they are, filling up is still putting a strain on everyone’s wallet.
“It’s affecting everyone, those that have and those that have not,” said driver Richard James.
According to Moody’s Analytics, every 10-cent increase in the price of gas costs American consumers at least $11 billion over the course of a year. And with prices where they are right now, it could cost every household an extra $2,000.
News4JAX has been following gas prices for weeks now and has learned of a new feature that allows you to buy your gas now but pay later. We’re calling it gas layaway.
While you can always put gas on a credit card, if you have a high-interest rate and don’t think you can pay it off, then you probably don’t want to do that. So this is an alternative option but only a few gas stations are participating.
The buy now, pay later payment method is nothing new. Companies like Affirm, Afterpay and Klarna have offered the option for most retailers for years. But in 2021, Klarna teamed up with Chevron, which also owns Texaco gas stations, to offer the feature.
Here’s how it works:
- You use the app to buy a digital in-store card for $75.
- Any unused amount will be credited back to your account.
- Add the money to your Apple or Google wallet and tap to pay at the pump.
- The money will be split into four payments due over six weeks with no interest.
- However, if you don’t make a payment, you’ll be charged a fee.
Again, the service is free, but you do have to pay it back or you will get charged a late fee of up to $7.
It just gives people a little extra wiggle room to pay it off than say a credit card each month.