Thanks to the war in Iran, gas prices are soaring, with the cost per gallon for premium fuel topping $5.00 in some places. Even a gallon of regular gas will set you back $3.98 per the national average, according to AAA.
Retirees and snowbirds heading back north or across the country are in for a bit of shellshock at the pump. After all, the price of a gallon of gas may be a $1.00 or more higher than what they paid a mere month ago.
“It’s very remarkably unpredictable as to what the next chapter will be,” in regards to the price of oil, said Patrick De Haan, a petroleum analyst at GasBuddy. “Until the Strait of Hormuz is open for free navigation, we will see oil prices impacted.”
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While gas prices are out of your control, there are ways retirees and snowbirds can save the next time they fill up.
9 ways to save on gasoline
1. Slow down: Driving slowly is tough when you are on open roads and ready to get home. But fuel economy peaks around 50 mph for most vehicles, so the faster you go, the more fuel you burn.
Reducing your speed by 5 to 10 mph improves your fuel economy and extends the distance between fill-ups. “When you drive, set the cruise control for 63 or 65. You are going to do 15% to 20% better miles per tank,” said De Haan. If you are retired, you likely aren’t in a rush, so slow down.
2. Stop idling: Idle hands are more than the work of the devil, it can also cost you at the pump. According to AAA, an idling car consumes one-quarter to one-half a gallon of fuel per hour. A warm engine only uses about 10 seconds’ worth of fuel to restart.
When you can, shut off the engine if you will be idling for more than a minute, according to AAA. Some of the new cars have a built-in feature that automatically shuts off the engine when the car has been idle for a moment.
3. Keep it smooth: Avoid hard acceleration and braking, which reduces the fuel efficiency of your vehicle, particularly if it’s older. Consumer Reports tested an older Toyota Camry and found hard braking and acceleration reduced mileage efficiency by 2 to 3 mpg. Avoiding that will save you money and extend the life of your vehicle.
4. Maintain your tire pressure: Driving on tires that are underinflated takes more effort to move the car. Keeping tire pressure at the level in your driver’s manual can save you money at the pump. You can improve your gas mileage by as much as 3%, according to the Department of Energy.
5. Don’t sweat it: Running the air conditioner wastes gas, which is why it is better to open the windows in mild weather. Doing that can save you one to four miles per gallon, according to Consumer Reports. If it is hot outside, do not forgo the A.C. if it means you will be uncomfortable and distracted while driving.
6 Keep it light: At highway speeds, almost half your engine’s power goes to overcoming aerodynamic drag from things like a roof rack or cargo carriers. If you lighten the load before you start your trip, you can save at the pump.
7. Go for the cheaper fuel: Your vehicle may like premium gasoline, but if it doesn’t need it, skip it. You’ll pay 15% to 20% more for it, and it won’t mean a significant improvement in performance or fuel economy.
8. Shop around to save: Shopping around is a key way to save on gas since prices change drastically from one station to the next. It is not a stretch to see a 10% price discrepancy between two gas stations on the same street.
Several mobile apps and websites help you compare prices and map out the best gas stations for your drive home. GasBuddy lets you plan your route, calculate your total trip cost and find the cheapest fuel stops along the way.
Meanwhile, AAA’s TripTik Travel Planner lets you view real-time prices, locate member discounts and find approved auto repair shops. Other apps to check out include Upside, Waze, Google Maps and Gas Guru.
9. Let loyalty reward you: There are several fuel reward programs available at gas stations. These programs give you money off each gallon as well as access to flash sales and points for in-store purchases.
Costco, Sam’s Club and BJ’s also have fuel programs that can save as much as 30 cents a gallon. To access them, you have to be a member, which requires an upfront cost, but it may be worth it if you live near a club and fill up frequently.
Embrace change to save
Nobody knows where oil prices are headed, but one thing is for sure: consumers are feeling the brunt of it. Following these tips can save you money whether you are heading home from a winter in the sun or are gearing up for a spring road trip.