Let’s take a break and talk about what is really on the minds of all of us this week - Gas prices. No matter where you live, whether you own a car or not, this topic is impacting you right now. And it will continue to impact you. I’ve compiled some tips to help you save money as we head into the busy summer driving season.
According to AAA, just six months ago, the average price for a gallon of regular gasoline in the
United States was $2.91. In May, the average price is now sneaking up on $4 a gallon. Since the start of the year, crude prices have soared more than 30 percent and analysts predict the price will go even higher. Many predict prices could reach $150 a barrel by the end of this year. Darin Newsom, an analyst at DTN says the price isn’t going down any time soon.
“There’s no indication we’re at the top of the market,” he said.
The price of oil isn’t just a consumer issue, it’s a political one. The U.S. Government temporarily stopped buying oil for our country’s strategic petroleum reserve. They hope that will help lower demand and ease pressure on surging prices. The reserve was established in the 1970s to help boost the economy from supply interruptions such as that decade’s oil embargo.
But some lawmakers want more done. Many are calling on President Bush to release oil from the reserve to help level off prices. But that’s just a short term fix, since the reserve contains only enough oil to help keep our country running at its current rate for about two months. No matter how you look at it, the price of $1 a gallon gasoline is over. We need to start making changes in our driving habits. While Americans are still going to travel, they need to find more efficient ways to drive without breaking the bank this summer.
There are a number of ways to help save on fuel, but for many of us, depending on where we live and our driving habits, not all options may apply. I live in a beautiful area of
Northern Michigan. I live here because of all the outdoor activities that are offered – swimming in
Lake Michigan, hiking, biking and skiing. But living in a rural area does have some disadvantages. Public transportation doesn’t exist here. Trust me, if I could take a bus or subway to work, I’d hop on in a heartbeat. Biking to work? Sure, if I wanted to bike for an hour each way. And that doesn’t include the winter months. Biking in -20 degree wind-chill with snow in my face doesn’t sound appealing to me.
I do get out and walk when possible. But for many Americans, walking, whether due to location challenges or health reasons, just isn’t an option.
But I do what I can. I’ve started to make changes in my driving that will help me. Many of these tips will apply to you as well. While we all can’t enjoy mass transit or the ability to walk or ride our bike everywhere, we can make small changes that will add up in the long run. Here are some tips to get your started on saving at the pump.
Combine Errands – You can use twice as much fuel with several short trips as you would with one longer trip. Combine your grocery shopping, dry cleaning, and post office runs altogether.
Carpool – If you live near one of your co-workers, or you work near one of your neighbors, share the ride. It may take some schedule adjusting, but even if you carpool once or twice a week, the savings will add up.
Cruise Control – When traveling longer distances at a steady rate of speed, set your cruise control. It will greatly improve your fuel economy.
Dead Weight – All that extra stuff you’re hauling around in your trunk and backseat are costing you. 100 pounds of extra weight can reduce your fuel economy by 2%.
Filter Control – When was the last time you checked your air filter? Replacing a clogged filter will increase your gas mileage up to 10%.
Gas Up – For most cars, the recommended gas is regular octane. Using a higher level offers no real benefit and just leaves a deeper hole in your wallet.
Get Under Your Hood – Change the oil already! Clean oil will reduce the wear between moving parts and also removes harmful substances from your engine. Your owner manual will recommend what grade of motor oil works best for your vehicle.
Tire Check – Make sure your tires are inflated to the proper levels. It can help increase gas mileage up to 3%.
Tune-Up - Keeping your engine in-tune to your owner’s manual recommendations will help increase your gas mileage up to 4%.
Watch Your Speed – Once you hit 60 miles per hour, gas mileage decreases rapidly.
Scientists are frantically searching for ways to help us limit our oil consumption, but many advances are a long way off. And while the price at the pump is only expected to increase, making small changes can help take you further in the long road.