Eight Great Ways to Combat High Gas Prices this Summer

Back in 1970, my boyfriend and I took a trip across country in my navy blue VW bug. It seemed as though everyone made that trek at least once while they were in college, or soon thereafter. We camped in national and state parks or crashed with friends along our route. With gas costing around 36¢ a gallon, it was a cheap vacation and an acceptable excuse to not getting a job at a summer camp.

Using the Federal Reserve calculator, I discovered that what we paid for a gallon of gas is the equivalent to $2.00 in today's dollars, but it certainly felt more like 36¢ way back when. We could easily afford it, even on the slave wages we earned as grad students.

Assuming a journey from upstate New York, where I now live, to Credit.com's world headquarters in San Francisco (which was better known in 1970 as the home of Haight-Ashbury), we're talking about at least a 6,000 mile round-trip adventure. I think we averaged around 25 miles per gallon (MPG), which means we bought around 240 gallons of gas, for a grand total of $86.40 – the same amount a lot of people have to pay to simply fill their tanks today!

Even using the Fed's $2.00 number, it doesn't seem all that high at $480. Today, of course, you'd have to double that $480 – assuming gas stays at $4.00 a gallon. Wouldn't it be great if you could at least knock that $4.00 down to $3.60 or less for your fun in the summer sun? You can – easily – especially if your credit is very good to excellent. How?

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1. Get a BP Visa Rewards Card from Chase and take advantage of its generous introductory rebate offer of 10% at BP and Amoco gas stations. The 10% rebate is only good for 60 days – perfect for summer travel – then it goes down to 5% at those stations. Plus there's a 0% APR on balance transfers for the first three to six months, depending on your credit picture. You can get 2% rebates for buying gas at other stations and for food and lodging as well, but that's doubled for the first 60 days, as is the 1% rebate on all other purchases. Please note: This is NOT a card to use if you're going to carry a balance. The interest rate is between 13.99% and 20.99%.

2. Fiddle first. If the car isn't moving, but the engine's running, you're getting 0 miles per gallon. Make all adjustments to mirrors, seat belts, hair, children – whatever – before starting up.

3. Stuck in traffic? Turn off the engine whenever you'll be sitting for 60 seconds or more, and you'll save on gas.

4. Pump them up. Properly inflated tires will save money on fuel costs. Buy a decent tire gauge and use it. Also, make sure your tires are properly balanced - another gas-saver.

5. "Higher octane = better performance" is nothing but a marketing ploy. Don't use gas with a higher octane rating than is recommended in your car's owner's manual.
   

6. A tune-up can cut your fuel costs by as much as 20%. The trouble is, today's cars don't need the old-fashioned tune-ups (points, plugs, condensers, idle adjustments) that we got every 15,000 to 25,000 miles in the good old days. See what your owner's manual says on the subject, and also see what else it says about raising your MPG and saving on gas.

7. Use sun shades (the kind you put in the windshield of your car). They'll keep the car cooler and the dashboard and upholstery in better shape. Plus, they'll cut your fuel costs on hot days by reducing the load on your air conditioner.

8. Slow down and chill out! You'll save on gas and you might just save a life. "Aggressive driving (speeding, rapid acceleration and braking) wastes gas. It can lower your gas mileage by 33 percent at highway speeds and by 5 percent around town," according to the EPA, which offers its tips on fuel economy here.

What are your favorite tips for saving money on gas? Please share them with us!

Nancy Castleman – Co-author of "Invest in Yourself: Six Secrets to a Rich Life" and founder of Good Advice Press. Nancy has spent the last 23 years teaching people how to get out of debt, save money, and live better on less. She writes on all these subjects for CreditBloggers.com.

Comments

[Gerri]

You're right about tire inflation. I replaced my tires recently and my mileage went up immediately.

[Sara]

Wow -- that is pretty incredible. I started driving seven years ago and gas was only $1.50 or $1.80. Now I'm a recent college grad paying almost $5 a gallon and going crazy! My family lives only three hours away but I hardly go home anymore because it's so expensive. According to a Roper poll I just saw, looks like I'm not alone: http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20080527006417&newsLang=en