Is the Gas Pump Demon Sucking Dollars Out of Your Pocket?

As gas prices continue to spiral higher and higher we all want to save as much money at the gas pump as we can. Some politicians and radical activists have declared that Americans are paying far too little for fuel. Their ideal is to have $5.00 a gallon gasoline.

For each $.10 increment that pump prices increase the average driver is going to pay an additional $75 per year for fuel. How much more are you paying for fuel now compared to last year? A dime? Twenty cents or more? So how are you going to continue to pay the extra fuel costs you see each month?

While you may not be able to control the price of gas you can follow some guidelines to help save as much money as possible. Here’s where you can start taking charge of the spending instead of being a victim.

1. Track what you spend. Keep a car diary in the glove box and write down what you spend each day. Fuel, oil, air filters, mileage and dealer service. If you carry a PDA you can build a small spreadsheet to do the same thing. But you have to learn to do it at each transaction. It only takes a couple of seconds. You have to know the true cost to operate your vehicle before you can ever “know” you’re being successful at saving money.

2. Keep your tires at the proper operating pressure suggested by the manufacturer. Under inflated tires are responsible for huge losses in vehicle performance. And it’s just plain dangerous to drive on tires that aren’t correctly inflated. Use your own tire gauge. Spend a couple of bucks at a parts store and keep it in the glove box where it’s handy. At least once a month check the tire pressure - and don’t forget, write it down in your car diary.

3. Check and replace your air filter. If air can’t get into the engine to be mixed with the fuel your vehicle will run too rich and burn extra gas. The filter should be replaced annually at the very least, more likely a couple of times a year depending on how many miles you drive and how dusty or dirty the environment is where you drive. Remember, write it down when you check the air filter and when it’s changed.

4. Change your engine oil regularly. Dirty oil is thicker than clean oil. Guess what? That extra crud in the oil takes power to turn and that means your engine will have to work harder and will burn more gas. While there are high mileage oils on the market if you read the fine print the manufacturers all have stipulations relating to the environment and operating conditions in order to achieve those longer oil change periods. They don’t fit the typical operating conditions of most American drivers so plan on changing the oil every 2000 to 3000 miles. Write it down in your car diary.

5. Plan your shopping. Don’t make short, one-way trips if possible. Combine trips to the mall, the dry cleaner, the doctor or whatever, to happen all together.

6. Reduce your speed. Let your right foot rest a little and don’t press on the gas pedal that hard. The difference in driving 70 mph or 75 mph over a 5 mile journey is seconds. Backing off on the throttle will save you money.

7. Use a gasoline credit card or a credit card that rewards you for your purchase. Certain cards will give you back a rebate on the purchase of your fuel. There are several on the market but my favorite is Discover Cards’ Open Road card because the rates are the lowest and the rebate is the highest right now.

There you go, 7 ways you can start saving on fuel today. You don’t have to buy anything, spend extra money or wait a month to see the results. It just takes action so get started today. Be sure to check in regularly cause we’ll be adding new ways to save fuel each week.

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