Can you really save on gas?
Fri Jun 26, 2009 | | Posted in Finances Savings
Definitely, according to Energy Information Administration (EIA), you sure can. Prices have been on the rise steadily since it bottomed out late last year. In Tysons Corner, VA, one gas station I went to was selling gas for less than $1.55 a gallon.
The experts tell us that the reason for the increase in price is optimism grows on Wall Street that demand for crude will rise worldwide once the global economy stabilizes. And further boosting prices at the pump is an Environmental Protection Agency requirement to add a fuel blend to gasoline in certain regions during the summer months that reduces ozone damage. This additive alone can add another five to 10 cents to the price per gallon.
I don’t buy the last reason. The additive sure can add to the price, but weren’t they adding it at $1.55 or a few years ago less than $1.00? However, in any case, you cannot control prices at the pump but you sure can reduce the effect on your pocket by using less gas. One way you can achieve that is by driving less and avoid unnecessary trips to here and there. Other ways you can do that is by doing the following, according to some experts:
Save by keeping your car at optimum efficiency
Routine maintenance on your car’s tires and engine can increase its fuel efficiency and might even extend its life.
- Save 3% over a year by keeping your tires inflated to manufacturer’s spec. Under inflated tires require more energy to roll and decrease a car’s fuel efficiency.
- Save 10% by changing your air filter regularly. Clogged air filters can damage your engine and decrease fuel efficiency.
- Save 2% by sticking to the motor oil that’s recommended by your car’s manufacturer, and buy one that states “energy-conserving” on the label.
Save by avoiding road rage
Aggressive driving isn’t just dangerous. It also wastes a lot of fuel. Consumers pay an extra 24 cents per gallon for every five miles per hour (mph) over 60 mph they drive, according to the Alliance to Save Energy. Rapid acceleration, hard braking and speeding can lower a car’s gas mileage by 33% on the highway and 5% in the city, according to the Department of Energy (DOE).
Limit A/C use
Whenever possible try to keep the air conditioner at the lowest level. Having it maxed out can reduce your fuel efficiency by up to 25% compared to having the A/C turned off.
In a Nutshell
You can save on gas by maintaining your car at optimum efficiency just like when you bought it new from the dealer.
What do you think?
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Information contained herein is general in nature, and is provided for informational and educational purposes only. Past performance is no guarantee of future results. Talk to your financial adviser.
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