Dollars and Sense: Soaring Gas Prices

March 26, 2008 6:10:30 AM PDT
As oil prices rise, an increasing portion of the family budget has to be set aside for gas money. Phil Flynn, Senior Market Analyst at Alaron Trading, helps make sense of the soaring prices and shares some tips for saving pennies at the pump. Tips To Save At The Pump: (FROM AAA-Chicago)
  • Slow down. For most vehicles, fuel economy drops off significantly when traveling more than 60 miles per hour. As a rule of thumb, you can assume that each 5 mph you drive over 60 mph is like paying an additional $0.20 per gallon for gas.
  • Stick to a routine maintenance schedule. Keeping tires inflated, moving components properly lubricated and ignition and emission systems operating properly will help ensure maximum fuel efficiency and extend the life of your vehicle.
  • Lighten your vehicle by cleaning out the trunk, cargo areas and passenger compartments. A heavier vehicle uses more fuel.
  • Keep your eyes open for low fuel prices but don't waste gas driving to a distant filling station to save a few cents