subject: Ways to Save at the Pump [print this page] Ways to Save at the Pump Ways to Save at the Pump
Prices for gasoline are getting out of control. Gas has been rising steadily in the recent weeks with the national average announced yesterday at over $3.50 per gallon. Last week alone prices spike 19 percent from the previous week. In fact, the government said that last weeks increase in gas prices was the largest single week increase since Hurricane Katrina back in 2005. As a reference point, the highest single week average in US history dates to July of 2008 when the average price for a gallon of gas topped $4.10 per gallon. Many experts say we could hit that before we see prices come back down.
There are many factors driving gas prices higher starting with the turmoil in Libya. Ironically, Libya only supplies about 3% of the US gasoline but that is more than you think. Not only are we seeing spikes at the pump because of it but soon consumers will see increases in many other products as well. Experts are estimating that we have a 35% chance that gas prices will stay above $3.50 per gallon through summer and we have a 10% chance it could climb higher than $4.00 per gallon.
That being said, here are a few tips to help you save next you fill up:
1. Tires - Make sure your tires are properly inflated. Your ultimate gas mileage is decreased when your tires do not have the proper inflation. Read the owner's manual for the vehicle you drive and determine what they recommend as the ideal pressure.
2. Engine - Experts say that if you are in a situation where you plan to sit idle for more than 30 seconds, you will actually save fuel by shutting down the engine and restarting it again. That goes for everything from sitting at a long light, waiting on a train or waiting outside the grocery store for your spouse to check out.
3. Gas Pedal - You are not driving in the Daytona 500, so be careful with acceleration. Use light pressure on the accelerator when leaving a complete stop or when passing. You would be surprised at how much fuel you burn through when taking off.
4. Speed - Just because the street sign says 75 MPH is allowed, you burn a lot of fuel at these top speeds. Experts say that by slowing down 10 MPH, you can conserve as much as 23% more fuel. So you get there a few minutes later but you saved some greenbacks in your wallet.
5. Weight - Excess weight can slow down your vehicle and burn excess fuel. Clean out that packed trunk that you are carrying around extra "junk" in which is adding unnecessary weight to your vehicle.
6. Look Around - Many have found that gas prices fluctuate from location to location and by day of the week. There are several options out there to find the "cheapest" price in town. To an app for your iPhone to many of your local news stations are posting the best pricing in town. Either way, a little homework could save you a lot.
Let's face it. No one wants to pay more than they have to and it looks like we could be in for a long summer of gas prices. Hopefully these simple tips will help save you some money in the long run. Consider applying for an auto refinance loan as a way to save on your monthly car payments. A few clicks of your mouse and you could join the thousands of consumers saving on their existing car loan payments.
