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Smart ways to save money on gas
With crude oil prices continuing to spike amid growing conflict in the Middle East, many people are worried about rising costs at the pump.
According to a new survey conducted by Yahoo! Finance and Harris Interactive, 57 percent of consumers have already changed their driving habits as a result of high gas prices.
The silver lining is that you can save a significant amount on gas if you survey local prices before filling up, drive to maximize fuel efficiency, and do a little planning ahead.
Research Your Pump Options
When it comes to comparison shopping for gas, the Internet is your best friend. Sites such as GasBuddy.com, GasPriceWatch.com, and MSN Autos allow you to enter your ZIP code to see what local stations are charging. I recently did a price check on my area before filling up; one station was offering $2.92 a gallon, another $3.05. That's a savings of $3 to $4 for a full tank.
If you're on the road and can't check the Internet, GasBuddy.com recommends steering clear of affluent areas, where customers are generally less price sensitive -- something gas station owners realize. Stations adjacent to major freeways also tend to be more expensive than those a few blocks away.
Discount warehouse clubs such as Costco, Sam's Club, and BJ's Wholesale Club have gas stations across the country, and their prices typically beat independent operators. But factor in the cost of your annual membership when analyzing the savings, and don't forget that you may have to wait in long lines at the pump
When you do fill your tank, buy the lowest (and cheapest) octane of gasoline. As long as the engine runs quietly -- no knocking or pinging -- regular unleaded should be fine. Just double-check your car's owners manual for the manufacturer's fuel recommendation. And don't top off your tank, otherwise you might end up paying for fuel that spills or dribbles back into the station's tanks.
Drive to Conserve
According to the auto information web site Edmunds.com, you can improve your car's fuel economy by 37 percent just by adjusting some of your driving habits and performing basic maintenance.
Most important: Take it easy. Don't gun the engine the second the light turns green, or rush up to a red light and then slam on the brakes. Accelerate smoothly and decelerate and brake gently. According to the U.S. Department of Energy, driving aggressively can lower gas mileage by 33 percent on the highway and 5 percent around town.
Also drive within the speed limit, especially on the highway, and use cruise control whenever possible. The Energy Department suggests that each 5 miles per hour you drive over 60 mph is equivalent to paying an additional 20 cents per gallon for gas.
Avoiding excessive idling can also save a bundle. In one test, drivers for Edmunds.com drove a 10-mile route, stopping 10 times for two minutes each, and then repeated the route without stopping. Driving straight through saved up to 19 percent on gasoline. If you expect to be idling for more than a minute, shut off the engine.
As for maintenance, schedule regular engine tune-ups and make sure your tires are inflated to the recommended pressure. Meanwhile, lighten up! According to the Department of Energy, an extra 100 pounds in your vehicle could reduce your miles per gallon by up to 2 percent.
Plan Before You Go
There are many ways you can plan ahead to reduce gas consumption. For starters, write out your schedule for the week and see if you can coordinate errands. I visited two banks, the grocery store, and the orthodontist the other day -- something that might have taken four separate trips in the past.
I also started making dinner menus for at least one full week and stocking up on necessary ingredients, rather than hitting the store every three days. (It helps to keep a list on the fridge: We paid a fuel premium for blueberries recently because my husband had to run back to the store for them in the middle of making pancakes.)
Clearly, the best way to save on gas is to make a lifestyle change. For instance, trade in that SUV that gets 15 miles to the gallon for a hybrid that gets 45 -- or at least something a little more fuel efficient.
Or don't use the car at all: Take advantage of public transportation or carpool to work. According to the Yahoo! Finance/Harris Interactive poll, 18 percent of drivers said they would use public transportation or carpools to offset driving costs if gas prices continue to climb. In western states, the figure was 27 percent.
Find a driving partner through your job's internal bulletin board, or at web sites like carpoolconnect.com. There are also many region-specific sites -- just do a Yahoo! search for "find a carpool" and your city. Washington, D.C., has a unique form of instant carpooling known as "slugging": Drivers who want extra passengers so they can ride in the faster high occupancy vehicle (HOV) lanes pull up to a designated "slug line" and call out their destination (see Slug-Lines.com for more information).
Say Goodbye to Your Car
If you live in a major city, consider giving up your car altogether and joining an auto sharing service. Firms like AutoShare and Zipcar offer the use of a vehicle for an hourly fee. The cars are usually parked in various locations around a city, and can be booked on the web in minutes.
The pay-as-you-go method may make you think twice about driving for short trips, and will save on ownership costs. One reader in Toronto told me he pays about $2,000 a year using AutoShare, which is 30 percent less than the cost of owning a small Honda Civic (plus, he gets to drive newer cars).
This is obviously not the best option for someone who drives to work every day, but it's a good alternative for leisure drivers and people who occasionally need a second car.
Make Money at the Pump
Finally, consider a credit card that offers cash back on fuel purchases. The web site PumpAndSave.com lists some of the best gas cash-back credit cards as chosen by gas consumers and car owners.
With gas prices so high, getting 5 percent back on pump purchases can add up to real money. But make sure you're disciplined enough to pay the balance on time and in full every month, because that 5 percent rebate will be eaten up immediately in late fees and interest payments if you don't.
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