Expect some much-needed relief at the pump! The US and its industrial allies unexpectedly announced that they’re releasing 60 million barrels of crude oil from reserves over the next 30 days. The move came after a recent OPEC meeting failed to result in increased production. Oil prices immediately kicked down 4.5% on the news. Time to fill up the ‘ol SUV and do some donuts before the market realizes it overreacted and prices go back up!
A survey by Coldwell Banker of its realtors finds that gas prices are figuring big in the calculations made by new home buyers of where to live. 75% said the spike gas prices is influencing decisions made by their clients, pushing them to choose homes closer to where they work.
Riding a bike isn’t an option for every commuter, but for those within a reasonable range, high gas prices and the approaching summer mean there’s no better time than now to consider pounding the bike pedals rather than the gas pedal.
By next month, $4 gas may be in our rear-view mirrors. Falling oil commodities prices will translate to less pain at the pump if analysts’ predictions come true.
As a reaction to rising gas prices, new cars are becoming lighter and more fuel-efficient. Auto manufacturers are scrounging for ways to cut the weight of vehicles, shifting to lighter materials and ditching some parts altogether.
If you put mid-grade gas in your car, it’s actually cheaper to pump in a mixture of premium and regular to get the same octane level. But how much of each do you use to get the right blend? As will some day be with all things in life, there’s an app for that.
Surging gas prices affect not only those with gas guzzlers, but potentially just about every product you buy. Rising shipping costs will likely be passed on to consumers, who will have less money to cover the costs because of other ways expensive gas is sucking them dry.
The economic hardship brought on by gas price increases is a spawning ground for silly, ineffective conventional wisdom on how to cut down on fuel use. It’s important to distinguish between genuine gas-saving maneuvers and moronic wastes of time and effort.
A man’s eyes popped out his head and went “Awoooga!” when they saw his receipt for pumping 13 gallons of gas: $2297.84! Since he paid with his debit card, that meant real money was immediately drained from his bank account, causing a $1,300 overdraft. At first the gas station manager just shrugged his shoulders and blamed the bank, but he changed his tune after news reporters walked in asking questions about the receipts.
To frugal drivers, value and efficiency are sexier than horsepower and design. With fuel economy, cost of ownership and resale value in mind, Forbes evaluated cars on the market and chose the most value-packed models. Most are compacts, with the Mazda2, Nissan Versa and Chevrolet Cruze taking three of the first four spots on the list.
Ongoing protests and government upheaval in the Middle East may be great for freedom, but the phenomenon is costly for anyone who needs to buy gas. Oil shot up past $100 a barrel Wednesday, its highest point in more than two years.
With the economy kinda sorta picking up, and consumers in China, India and Brazil buying cars in droves, gas prices are expected to keep going up, and may hit $4 a gallon by early spring, when Americans finish scraping the ice off of their windshields and begin planning road trips. And unlike 2008, when gas last broke the $4 barrier, only to later drop to lower prices, $4 may be a new baseline, followed by $5 gas as early as next year.
One easy way to save on gas is to park in the shade. The cooler your car is, the less the gas in your tank will evaporate. A quality windshield shade helps, too. After all, you wouldn’t want your hard-earned dollars to waft away into the sky, now would you?
Energy companies were supposed to compensate rural Virginians for the billions of dollars worth of gas they sucked from their land, but a local newspaper’s Pulitzer Prize-winning investigation found that the money has instead been diverted into escrow accounts for over 20 years. If the landowner even knows the money is there, it’s nigh impossible to get it out, and in any event, the companies have only been putting in a fraction of what they’re supposed to. A rubber-stamping regulatory board that hadn’t done an audit for a decade only compounded the problem. I drink your milkshake, indeed.