With the price of oil through the roof, several friends have recently asked me what we can do about the high price of gasoline. Unfortunately, there may not be much we can do about high gas prices, but we can all change a few small things that add up to significant gas savings.
First of all, I’m not going to talk about doing things like buying a hybrid vehicle because I don’t think most of us have an extra $17,000 to $23,000 in cash waiting to be invested in a newer, more fuel-efficient vehicle. So here are some realistic low- or no-cost things you can do to save money on gas and make your trips to the pump less frequent, regardless of the type of vehicle you drive:
1. Pay for gas with a credit card that gives you cash back. Chase, Discover, and American Express all have cards that give you cash back on your gas purchases (and you can earn up to 5% cash back depending on which card you use). Other cards like Citi give you cash back on every purchase, but you’ll get a lower percentage back.
2. Use synthetic motor oil. This can save you up to 5% on gas.
3. Keep your vehicle’s tires properly inflated. Check tire pressure every time you refuel. Doing so is safer and gives you better control of your vehicle, saves wear on your tires so they last longer, and saves you about 3% on gas. Keep in mind that even the best tubeless tires on the market today lose 2-5% of their air pressure each month due to air naturally migrating through the rubber.
4. Locate a gas station with cheap prices that is on your daily transport route or close to where you live and refuel there. Where I live in Phoenix, Arizona, prices vary by up to 5% between discount gas stations and brand name stations. Better yet, buy gas at stores like Costco or Sam’s Club. This will typically save you 2-3% on gas at discount stations.
5. Remove items you do not need to have with you from your vehicle. Carrying that extra weight costs more gas.
6. Drive more moderately: reduce rapid acceleration and braking. This will also prevent wear on your brakes so they will last longer and you won’t have to replace your brake shoes and pads as often.
7. Whenever possible, drive during off-peak hours when there is less traffic. You’ll save money on gas, and your commute will take less time, too.
8. If your job allows it, telecommute to work one day a week or more. More and more companies allow telecommuting, and telecommuters are often more productive than office workers. Telecommuting costs less for employers and when work is done from home, managers judge effort by the end result and not by how the work was done or how it was perceived to be done (have you ever had co-workers who they seemed busy but weren’t?) really that productive?). Here is an informative article on telecommuting as a true workplace alternative. Telecommuting just one day a week could save you 20% on gas.
9. Give your car a tune-up if necessary. A tuned engine uses less gasoline.
10. Whenever possible, plan your drive to be efficient and run multiple errands at once.
11. Avoid drive-thrus and wasting gas while your car is idling. Park your car outside and go inside for transactions at the bank, fast food restaurants, etc. An added benefit is the exercise you’ll get (assuming, of course, that it’s not pouring rain and you don’t have to walk through 3-foot snowdrifts to do this).
12. Walk, bike, or carpool whenever you can, or take public transportation. If you have public transportation available, taking the local bus is not only inexpensive, but also less stressful because you don’t have to navigate through rush hour traffic. During the trip, you can hang out and relax and listen to music on your MP3 player, call or text anyone very safely, read a newspaper or a book, or turn on your laptop and work on the go. .
In short, what can we do about high gas prices? We can be frugal and smart about how much gas we use, change some of our habits, and make sure we get the most out of our hard-earned money! The average American uses 500 gallons of gasoline each year. Implement the tips in this article and you can save 16% to 36% on what you spend on gas. At $3.50 per gallon, that’s an annual savings of at least $280 and up to $630!
