Circle K is taking 40 cents off each gallon of gas this Thursday

To find the nearest participating location to you, head to Circle K's website (1).

To participate in the promotion, you'll need to be a member of Circle K's Inner Circle loyalty program. There's no charge to join and anyone can sign up via the company's app, on the website, or at a Circle K location.

There are some restrictions, though. Certain states are not eligible for the discount, often due to state regulations. In Wisconsin, for instance, customers can save up to $4.50 on a minimum purchase of three gallons.

Discount comes as prices spike

Circle K's announcement comes as AAA reports fuel prices in America have surged to a national average of $4.54 per gallon (2). That's up five cents from the day prior, nearly 30 cents higher than a week ago, and $1.38 per gallon more than they were a year ago.

California has the highest average price per gallon, now coming in at $6.16. Washington state comes in second, averaging $5.75 per gallon.

Prices aren't expected to ease anytime soon as the war in Iran continues and there is still no firm indication when the Strait of Hormuz will reopen. Gas prices are currently the highest they've been since late July 2022, says AAA.

Recurring discounts

Circle K has offered deep discounts on gas a couple of times over the past year. It's an effective way to get people into its stores and, the company hopes, turn the bargain seekers into regular customers. The company last offered a significant discount in mid-January.

Beyond the discount window, Circle K will be offering a few extras with this promotion. Inner Circle members can enter for one of 250 gift cards, which provide a summer's worth of free fuel (Winners will be selected in early July. (Non-members can enter the sweepstakes at the company's website (3).)

The company is also offering meal deals of a roller grill item and a drink for $2.50 and offering $2.50 car washes at select locations.

In addition to the discount, Circle K will donate 10% of the profits during the cheap gas promotion to the Children of Fallen Patriots Foundation (4), which provides college scholarships and educational counseling to military children who lost a parent in the line of duty.

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Circle K (1),(3); AAA (2); Children of Fallen Patriots Foundation (4)