Crude oil prices again hit a new high today ($133!) and have climbed more than 30% this year alone. If you don't think that this is going to have an impact in your pocketbook, you're either long on oil-drilling stocks or you've got so much money that you're not flinching at $4-plus gallons of gasoline.
For everyone else, this column is dedicated to going over ways to save money at the gas station.
The obvious solution is to drive less. It's a no-brainer tip, but think about it practically. Why make a roundtrip out to your local video store when you can rent by mail through Netflix or Blockbuster Total Access, or just see what your cable company is offering through pay-per-view? Before you head out to the crowded mall, give online retailers a shot, especially leading e-tailer Amazon.com, that often subsidizes shipping costs. If you're going to eat out, consider the growing number of companies that deliver. It's more than just pizza these days.
The second tip is to watch the amount of time you spend in your car. On April 15, McDonald's ran a promotion where every customer would get a free cup of iced coffee. Sweet? You bet, but I was shocked when I drove past my nearest Mickey Ds and found a line of cars -- 15 deep -- at the drive-thru lane. Did these people realize that they will likely spend more on gas than they are making back on a dollar menu freebie? Unless you have physical impairments that make getting in and out of your car a chore, just park the car and place your inside as a takeout order. You may actually enjoy the change of scenery.
My third tip isn't for everybody. However, if you are ready to trade in your car for a new model, you need to think about the kind of gas mileage you're getting. High prices are apparently here to stay. This doesn't mean that you should run out and overpay for a hybrid, unless you want to, of course. However, don't get more car than you need. Do you really need that monster SUV with the third row seating? Are your commutes more through highways or city streets? Some dealers are even offering gas incentives, so you may as well check everything that is available.
Think like a gas tank. Make sure you never run on empty.
Rick Munarriz is a personal finance columnist for HispanicBusiness.com. He has written for sites such as The Motley Fool and Citysearch, with appearances on NPR, TechTV, Sirius, and CNN en Espaņol. He can be reached through http://www.Reportedly.com where he discusses his latest articles.
