Gilbert Wealth Articles

Saving Money on Gas

When gas prices rise, many drivers start looking for the cheapest station in town. While saving a few cents per gallon helps, the biggest opportunities to reduce fuel costs often come from how you drive and maintain your vehicle.

The good news is that most fuel-saving strategies cost little or nothing to implement. Better yet, many of them also reduce wear and tear on your vehicle.

Here are some of the most effective ways to save money at the pump, along with realistic estimates of their impact.

Drive More Smoothly

Potential Fuel Savings: 10%–40%

If there is one strategy that provides the biggest return, it’s changing your driving habits.

Aggressive driving—rapid acceleration, speeding, and hard braking—can reduce fuel economy by 10% to 40% in stop-and-go traffic and by 15% to 30% at highway speeds according to the U.S. Department of Energy and FuelEconomy.gov.¹ ²


Slow Down on the Highway

Potential Fuel Savings: 7%–14%

Most vehicles reach peak fuel efficiency at moderate highway speeds. Once speeds exceed about 50 mph, fuel economy begins to decline due to increased wind resistance.

The Department of Energy estimates that every 5 mph over 50 mph is equivalent to paying approximately $0.22 more per gallon for fuel. Driving 65 mph instead of 75 mph can improve fuel economy by roughly 7% to 14%.¹ ³


Combine Trips

Potential Fuel Savings: 5%–15%

Cold engines operate less efficiently than warmed-up engines. Combining errands into a single trip can reduce fuel consumption, particularly during colder months when engines take longer to reach optimal operating temperature.¹ ² 


Remove Roof Racks and Cargo Carriers

Potential Fuel Savings: Up to 5%

Roof racks, cargo boxes, and bike carriers create aerodynamic drag that reduces fuel economy, especially at highway speeds. The Department of Energy estimates that a loaded roof-top cargo carrier can reduce fuel economy by up to 5%.¹


Reduce Excess Weight

Potential Fuel Savings: 1%–5%

Carrying unnecessary cargo forces your vehicle to use more energy. AAA notes that every additional 100–110 pounds can increase fuel consumption by approximately 1% to 2%, although the impact varies by vehicle.⁴


Keep Tires Properly Inflated

Potential Fuel Savings: 1%–3%

Properly inflated tires reduce rolling resistance and can improve fuel economy by up to 3%. FuelEconomy.gov estimates that fuel economy drops approximately 0.2% to 0.3% for every 1 PSI drop in average tire pressure below recommended levels.²


Avoid Excessive Idling

Potential Fuel Savings: Variable

Modern vehicles consume relatively little fuel when restarting. The Department of Energy recommends avoiding unnecessary idling, noting that idling can consume between one-quarter and one-half gallon of fuel per hour depending on engine size and vehicle type.¹


Keep Up With Maintenance

Potential Fuel Savings: 1%–10%

A properly maintained vehicle operates more efficiently. Fixing a serious maintenance issue, such as a faulty oxygen sensor, can improve fuel economy by as much as 40%, while regular maintenance helps preserve optimal performance.²


Use Fuel Rewards Programs

Potential Savings: $50–$300+ Per Year

Fuel rewards programs offered by grocery stores, warehouse clubs, gas stations, and credit cards can directly reduce fuel costs. Actual savings depend on spending habits and program participation.⁵


Use the Recommended Fuel Grade

Potential Savings: Hundreds of Dollars Per Year

Unless your vehicle specifically requires premium gasoline, higher-octane fuel generally provides little or no fuel-economy benefit. Consumer Reports and AAA both note that drivers can often save significant amounts by using the fuel grade recommended in the owner’s manual.⁶⁴


References

  1. U.S. Department of Energy. Driving More Efficiently. https://www.energy.gov/energysaver/driving-more-efficiently
  2. U.S. Environmental Protection Agency & U.S. Department of Energy. FuelEconomy.gov – Driving More Efficiently. https://www.fueleconomy.gov/feg/driveHabits.jsp
  3. U.S. Department of Energy. Fuel Economy Guide and Fuel-Efficient Driving Practices. https://www.energy.gov
  4. American Automobile Association (AAA). How to Get Better Gas Mileage. https://cluballiance.aaa.com/the-extra-mile/advice/car/how-to-get-better-gas-mileage
  5. Etenwolf. 10 Proven Ways to Boost Fuel Efficiency and Cut Your Gas Bills. https://etenwolf.com/blogs/news/10-proven-ways-to-boost-fuel-efficiency-and-cut-your-gas-bills
  6. Consumer Reports. How to Save Money on Gas. https://www.consumerreports.org/cars/fuel-economy-efficiency/how-to-save-money-on-gas-a1088396514/
Steven Gilbert

Steven Gilbert CFP® is the owner and founder of Gilbert Wealth LLC, a financial planning firm located in Fort Wayne, Indiana serving clients locally and nationally. A fixed fee financial planning firm, Gilbert Wealth helps clients optimize their financial strategies to achieve their most important goals through comprehensive advice and unbiased structure.