Gasoline prices are up more than 50% since the start of the war in Iran. Can average Americans protect themselves from those higher costs?
Not completely – oil is far too embedded into everyday life. For example, diesel-burning truck companies have imposed fuel surcharges to transport the goods Americans buy every day. Oil is also used to make the plastic containers for many of those items, as well as disposable cutlery, drink bottles and garbage bags.
But experts agree there are many ways, large and small, to reduce your oil and gasoline consumption – some of them surprisingly simple.
Slow down
This is the simplest thing most people can do, and the one that produces significant savings. Slowing down when you drive uses less gas and saves you money.
Reducing your driving speed on the highway from 75 mph to 55 mph leads the average gasoline-powered car to use 40% less gas, according to the Department of Energy. Exact savings can vary, but generally being a lead foot is costly.
Driving smarter on local streets rather than highways also improves fuel economy, as can avoiding “aggressive driving” such as rapid accelerations and hard braking, said Patrick De Haan, head of petroleum analysis for gas-shopping app GasBuddy.
Lastly, the simple act of making sure that your tires are full of air can save gas along with wear and tear. The Department of Energy estimates that drivers can reduce fuel use up to 3% by keeping tires properly inflated. Staying current on vehicle maintenance also improves fuel economy, De Haan said.
Plan ahead and take the bus
Reducing the number of weekly trips you make in a car obviously reduces the amount of fuel used, thus saving money.
That means planning ahead, combining errands and making fewer trips out to the same store during the course of week.
Bigger lifestyle changes can also reduce car trips. Carpooling, working from home and using public transit can all save what you spend on fuel, De Haan said.
Only about 4% of US commuters use public transit to commute to work, according to the Census Bureau. That’s less than the 9% who carpool and 13% who work from home.
Price shop
Shopping around for the best fuel price can also produce significant savings.
Hundreds of stations nationwide are selling gas for more than 50 cents above the average price in their county, often even $1 a gallon more, according to GasBuddy, which provides price data from nearby stations.
“Station prices can vary significantly even within a few miles,” De Haan said.
For drivers, it’s worth comparison shopping local stations to find the lowest price.
Buying a more fuel-efficient car
Buying an electric vehicle is the most extreme way to save on gas costs, even if it’s not an immediate option for everyone.
Millions of Americans buy cars every month. The current energy spike is making fuel economy a greater factor in those decisions, said Kathy Harris, director of clean vehicles, climate and energy for the National Resources Defense Council.
“We’re seeing Americans across the country really understand the benefits of transitioning to cleaner vehicles writ large. We are seeing traditional hybrid, which are more efficient vehicles, becoming more and more popular,” she said.
That interest ranges from plug-in hybrids, which allow drivers to use gas as a backup for longer trips, to pure electric vehicles, Harris added.
Charging at home saves people money. Even if you have to charge elsewhere, a full battery charge often costs less than filling up a tank of gas.
However, electrical rates are increasing across much of the country. And new EVs aren’t cheap, especially with the elimination of the $7,500 tax credit last year. Used EVs are a less expensive option, but prices are still significant.
The average price of a new EV is $56,300 according to car shopping site Edmunds. That’s above the $49,000 average price for new cars overall.
But for those able to make the change, better fuel economy will provide savings long after the current gas price spike.
“There’s a wide variety of different, cleaner options that will help to reduce our reliance on oil on a daily basis,” Harris said.
