THE CURRENT FUEL SITUATION
You and the other 228 million drivers in the US are by now wondering how long before gas prices drop. So here are the facts and a few helpful chasers to choke them down.
Remember when we had a backup plan for high gas prices? From 2009 – 2015 diesel fuel averaged 32 cents less than gas. Drivers in the 80’s and 90’s saw similar price comparisons.
Owning a diesel vehicle became a no brainer for saving on fuel costs. Not the case anymore as we see diesel prices creep up even higher than already crazy gas prices! In fact all fuel costs are susceptible to the current cause and effect.
We saw temporary relief when president Biden announced the release of federal reserve oil at the end of March, but that was it. Gas prices are on the rise again with no visible signs of stabilizing. Here’s what’s going on and what we can do to deal with it.
WHAT TO EXPECT
First, don’t expect those $2.89 per gallon prices of 2021 back anytime soon. From what analysts are saying, and this includes the Texas Oil and Gas Association, a steady decline isn’t expected while the war continues in the Ukraine. Personally, I would add that with transportation at a premium we should expect trucking, rail, and shipping to second that emotion and to promote high fuel prices even after the war has ended. It might be a good idea to settle in and begin formulating a strategy for saving on fuel costs.
WAYS TO SAVE
Stay close to full: I like to keep my tank relatively close to full, when I notice a dip in prices I top off the tank. Never let it go below a half tank.
Use gas apps & points: GasBuddy and Waze are two popular options. Harris Teeter offers shopping points to save at the pump (We use this a lot). Costco and Kroger have similar programs.
Pay with cash instead of a card: Some stations offer a discount for your cash because it saves them on processing fees. Stations are dropping their price 5 cents per gallon on average. That’s significant on a full tank!
Drive at or below speed limits: Ever notice the difference in fuel mileage when you’re keeping it at 55? It’s pretty fantastic, try it. Also, try accelerating to speed less quickly to help. A car’s gas mileage typically decreases at speeds over 50 mph. And for every 5 mph over that 50 mph speed limit that you drive, it’s like paying an additional $.20 per gallon. Frequent bursts of acceleration and braking reduced average vehicles mileage by 2 to 3 mpg.
Skip the premium: Save money and skip premium gas unless it is required. If there is only mid-grade, or premium fuel available, this will work fine in a car that is rated for regular gasoline.
Check tire pressure: Having tires with lower pressure than what is recommended on your door jamb sticker can affect performance, tire longevity, and fuel economy.
Station rewards program: Check at your local gas stops to see what discounts they offer with their rewards program.
“With transportation at a premium we should expect trucking, rail, and shipping to promote high fuel prices even after the war has ended.”
BOTTOM LINE
Settle in and pony up folks, it could be a long ride. We’ve all had to tighten our belts from time to time and this is one of those times. Looking for something with better gas mileage?
Call or text (757) 560-4252 and ask for Mike Love, I have answers.
Sources:
Kellerman, Austin “Are gas prices going up again, yes and here’s why” Newsnationnow.com Posted: APR 29, 2022 / 09:38 AM CDT | Updated: APR 29, 2022 / 09:38 AM CDT Web. Retrieved from: https://www.newsnationnow.com/us-news/are-gas-prices-going-up-again-yes-and-heres-why/
Johncox, Cassidy “Gas prices: How the price per gallon has changed throughout US history” clickondetroit.com March 18, 2022 Web. Retrieved from: https://www.clickondetroit.com/money/2022/03/17/gas-prices-how-the-cost-per-gallon-has-changed-throughout-us-history/
Gillman, Steve/Dow, Nicole “How to save money on gas: 20 simple ways to save” thepennyhoarder.com March 25, 2022 Web. Retrieved from: https://www.thepennyhoarder.com/save-money/how-to-save-on-gas/
