How we can save gas while driving

Last week we asked why gas prices were so high and what can be done in the interim to save gas while driving. Today, we look at the views of Professor Hamed Ghoddusi. He studies the economics of energy and commodity markets.

In an article by Lary Pena titled “Ask the expert: Why is gas so expensive right now?” Professor Ghoddusi said that part of the increase, which might be hidden to consumers, is what’s known as “crack spread,” the markup for refining gas. According to him, historically, the markup was usually around $7-$10 per barrel but was currently being calculated at $28 per barrel. He said it was because natural gas is used in oil refining, and the price of natural gas has also gone up. According to Professor Ghoddusi, even if there was no Russian invasion, we still would have experienced some price increases, because during COVID the U.S. oil industry lost some capacity, and also due to inflation.

When asked how long the situation might last, he said we have what’s called a “structural shock,” a real supply deficit due to the ongoing war and the COVID-related issues. And even if the war stops right now, rebuilding the global supply will take time. It’s not a phenomenon that is going to go away overnight.

So, today we share suggestions from CAPITAL, 2019 Cadillac Dealer of the year on how we can save gas while driving.

• Warm up your car for shorter lengths of time – Idling your car for anything over a minute wastes fuel and omits large amounts of greenhouse gas.
• Buy gas early or late in the day – Gas is cooler earlier in the day, and more dense. As temperatures rise, gas density falls, and you get less of it when you pump.
• Slow down and drive steady – Driving fast increases drag, which increases fuel consumption.
• Monitor when and how you brake – Braking excessively wastes gas.
• Eliminate wind resistance – Remove unneeded car racks and carriers.
• Don’t wait until your tank is almost empty to fill up – You’ll be stuck paying for whatever gas you can find nearby.
• Monitor your tires – Under-inflated tires tend to wear out quicker and waste gas.
• Tune the engine – A properly tuned engine uses less gas.
• Change filters – Clean filters help to keep cars running more fuel efficiently.
• Use the correct motor oil – Using the wrong motor oil can cause the engine to work harder and waste gas.
• Drive a manual – Manual transmission cars are more fuel-efficient than automatic transmission.
• Manage your speed – Use cruise control whenever possible to manage your speed and conserve fuel.
• Choose the best route – The shortest route isn’t always the most fuel-efficient way to go.
• Use the route that would require you to make the least number of stops.