Have you noticed gas prices lately? Of course you have. Can’t go to a news station for 5 minutes without someone jabbering about it. The truth is we’ve always bitched about gas prices. Look at the two pictures here, don’t you wish you were paying that now instead? We blame gas prices for inflation, recession, oil profits, diabetes, the War of 1812; you name it we’ve blamed gas prices for it. The Weakonomist tends to ignore gas prices. Naturally I look for the cheapest within a few blocks, but in all I don’t give a damn if prices go to $5.00. Hell, why not encourage it?
Noticed how cars have gotten bigger? It’s because we got bigger. My new Accord is a tank so it can withstand the impact of an obese trailer trash family t-boning me in their “family car”, a full size Chevy pickup . If the family has to pay $5.00 for gas, they might be forced to downsize to a car or minivan for the weekly trips to the Golden Corral buffet.. As the average size of a vehicle decreases, so does the weight. Lighter cars are more efficient (and fun to drive!). Hopefully fat family will stop eating so much too. Lighter family gets better mileage. Added bonus: less eating means less demand for food. Less demand for food brings prices down.
You want to blame high gas prices on something, blame your thunder thighs. The high consumption lifestyle we became accustomed to in the 90s was not a sustainable reality. Time to become accustomed to a more conservative lifestyle. As we trade in our trucks for fuel efficient cars demand for gas goes down, the price then follows. Just don’t expect it to happen overnight. Economic cycles can take a decade to catch up. Remember the market is driven by fear in the short term. Long term will see prices go down. Our reserves are high, demand is down. Ignore the news and get on with your life.
Now let’s say you’ve followed all the tips to cut your fuel consumption: Stopped running the AC, got a smaller car, driving less, carpooling, lost a few pounds etc… and you still want to pinch a few more tablespoons of fuel out of your commute. Its time to play the mind game. If you’re like me and don’t have a fuel economy gauge in your car, make one, well sort of. If you are like my girlfriend and already have a fuel economy gauge in your car, you might have played this game before.
I track my fuel economy by noting the odometer miles in between fill ups on the receipt at the gas pump. The receipt will tell me how many gallons it took to fill up and I subtract that from the size of my tank. Note for this to work you’ll need to always fill the tank to full. This is all tracked via a spreadsheet. My sheet also has areas to track the price I’m paying at the pump, and any notes about the car I might want to point out at the next service interval.
With each tank I’m trying to bring my overall average higher and of course get better mileage than the previous tank. Right now I’m getting 28.1 mpg with a goal of getting the average to 29. I also want to get a one-tank best of 30mpg in my normal driving (about 75% highway). My current ‘normal driving’ best is 28.6 and its been tough to beat. I set the cruise control when I can, leave early to beat traffic, never accelerate hard, and even take all extra junk out of the car when possible.
My newest trick is risky, but starting to pay off. When the gas light comes on I generally have 3.5 gallons left in the tank. I go as long as I feel comfortable because with less fuel on board the car is lighter, getting better mileage. We’ll see if it pays off or I get stuck on the highway. What has paid off is the change in driving habits. Having already driven like a grandpa, since tracking my mileage and trying to beat personal bests I’m getting an extra mile out of each gallon. That’s saved me almost $50 in gas so far this year.
I’m saving fuel to pinch pennies, and I’ll do this as long as my income is limited in some degree. Whether gas is $1.00 or $5.00 I’ll still be doing it. When you live a conservative lifestyle, market conditions have little impact.
 By The Weakonomist |
The Weakonomist is the founder of Weakonomics. Clicking the picture of the puppy will tell you more about him. If you like what you're reading consider subscribing to the blog, following him on Twitter, and checking out the related posts below. Please consider a donation if you really enjoy Weakonomics. Also keep in mind that nothing I say can be construed as financial advice. |
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