If you drive a car, then I don’t have to tell you that gas prices are on the rise. In the past week or so, the retail price for gasoline has soared, bringing the average cost to $3.38 $3.51 a gallon. This is according to American Automobile Association (AAA) statistics released by CNN Money.
While high prices may cause panic for some consumers, remember there are steps you can take to make sure soaring prices don’t send you into a financial tailspin. Here are 5 frugal tips for saving gas when prices soar, courtesy of Money Management International:
- Search for the best price. Gas prices usually vary from one area of town to the other. Websites such as www.GasPriceWatch.com and Gas Buddy can give you detailed information about the gas prices at stations in your neighborhood.
- Drive sensibly. Did you know that exceeding the speed limit by just 5 mph can result in an average fuel economy loss of 6 percent? Constant accelerating and braking wastes gas, and according to CNN Money, it can lower your gas mileage by 33 percent when driving at highway speeds and by 5 percent when cruising around town.
- Plan trips in advance. If you know you have to run multiple errands in a day, make a plan that will help you consolidate the number of trips you have to take. This tactic is also useful for driving down the cost of road trips. Gas prices vary from one city to another. Plan your route so you don’t get stuck paying extra because you have no choice.
- Routinely maintain your vehicle. Get your vehicle checked on a regular basis to make sure all systems are running smoothly. Make sure spark plugs and sensors are replaced on time and the tire pressure is at the right level. If these aren’t maintained, your vehicle will have to work harder, which means guzzling more gas. (Note to self: the car is due for an oil change!)
- Look into alternatives. Research other methods of transportation. These could include carpooling with co-workers, using public transportation or even riding a bicycle. Or walking more!
None of this advice is rocket science, and I’m sure you’ve read similar advice here before. But given how gas prices have gone up–and likely will stay up with the unrest in Africa and the Middle East–I felt it was a good idea to reiterate these tips.
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