Skyrocketing fuel prices could be put to better use
You can’t avoid the simple truth: Gasoline prices are at record highs around most of the United States and are headed higher as we move into the summer driving season.

Americans are responding to higher gas prices in a number of ways: Some are able to cut back on luxuries, like eating out, while others — especially those who commute or travel long distances — report making more serious cutbacks in their budget.

What can you do to soften the pain at the pump? The U.S. Department of Energy offers some basic tips:

• Drive more efficiently. Observe the speed limit and avoid rapid acceleration and braking. Gas mileage usually decreases rapidly at speeds above 60 mph. According to the Energy Department, each 5 mph you drive above 60 mph is like paying an extra 20 cents for each gallon of gas used. Also remember to remove excess weight from your trunk or truck bed. Removing 100 pounds of excess weight is like picking up an extra 7 cents per gallon, assuming a $3.60 gallon of gas.
• Keep your car in shape. Check and replace air filters regularly. Not only can a clean air filter improve your gas mileage by as much as 10%, it can also protect your engine from impurities that could cause damage and lead to a serious repair bill.
• Plan and combine trips. According to the Energy Department, “several short trips taken from a cold start can use twice as much fuel as a longer multipurpose trip covering the same distance when the engine is warm.” Along with combining trips, check into your area’s rideshare programs or, if possible, consider commuting with a coworker who works the same schedule and lives nearby.
• Choose a more fuel efficient vehicle. When it comes time to replace the vehicle you’re currently driving, consider finding a car with better gas mileage. The government’s www.fueleconomy.gov offers gas mileage estimates on 1985–2008 model year cars so you can evaluate which vehicle best meets your needs with the best gas mileage available.

Consider a vehicle that averages 20 miles per gallon will use $2,700 worth of gas in a single year (assuming gas costs $3.60 a gallon and you drive an average 15,000 miles annually). A vehicle that gets 30 miles per gallon will use $1,800 worth of gas, assuming the same price per gallon and miles driven — a $900 annual savings. Consider that $900 annual savings could net more than $13,000 in 10 years, assuming an 8% annual return.

Lastly, make sure you’re not using a higher octane fuel than your car requires. Most vehicles, except for those with high-performance engines, can get by on 87 octane. To use higher octane gasoline than your car requires is to waste 10–30 cents a gallon. That translates to a cost of up to $4.50 per fill-up (for a 15-gallon gas tank), which if done weekly can cost you $234 extra per year. Check your owner’s manual to find out for sure what octane you should be using.

The pain at the pump probably won’t subside any time soon, but with some simple steps, you can lessen its impact on your pocketbook.