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Save Your Gas Money
_At the end of the summer, gas prices were at a shocking peak for Americans. These drastic prices finally took their toll, cutting into consumer spending. Although many reports claimed the gas prices weren’t keeping consumers from driving, many people found ways to stay off the road, utilizing public transportation, carpooling or getting where they needed to go on foot or bicycle.
In the fall, gas prices began to dip, rapidly dropping almost 50% from where they were. Some credited the election, others the shaky economy and still others, the availability or unavailability of oil supplies. This drop in price helped many families regain control of their monthly budget and gave a bit of a well needed financial cushion.
Today, gas prices are on their way back up, decreasing and increasing at a rate of almost 25% a week. This fluctuation in prices leaves many consumers wondering where they stand and what the future will bring. Obviously, an energy shift is going to happen at some point – Barack Obama pledged $150 billion to alternative energy research over the next ten years and is committed to eliminating the United States’ reliance on oil.
In the meantime, how should the average consumer keep their head above water?
Get Used to It
Although the price of gas has dropped for a period of time, don’t ignore all those lessons learned when the price of gas was high. Cut your reliance on gas and be mindful of when you’re wasting it. Don’t run the heat higher than necessary when you’re not at home, keep up your carpooling habits and keep riding that bicycle – hey, bet that helped save on your gym membership, too!
Plan for the Worst
Although no one can predict the future, if you are in the market to purchase a vehicle that may be a gas guzzler, consider what this might mean to your pocketbook. Perhaps we’ve seen the worst in terms of gas prices – maybe we haven’t. The UK Financial Times reported that by 2030, the price of a barrel of oil will be over $200.
They also claimed that oil prices will bounce back quickly, once the economy is back in order. If you are looking to buy a car that you can afford the gas on now, consider whether you could afford it if the price of gas doubled.
Investigate Alternative Sources of Energy
As the option of alternative energy becomes more accessible to consumers, products and services will become much more finely tuned. In the mean time, take advantage of the alternative energy products that have been around for years.
Investing in solar paneling to cut back on the cost of heating your home is currently a viable option and has been under development for decades. Not ready to get that trendy? Then be sure to think of the tried and true - heating your home via an old fashioned wood stove.
Whatever you do to prepare for the future, according to the UK Financial Times and other sources, “the days of cheap oil are over.”Use this respite in high prices to prepare yourself for the worst and if it never comes, enjoy the money you still saved in the meantime.
In the fall, gas prices began to dip, rapidly dropping almost 50% from where they were. Some credited the election, others the shaky economy and still others, the availability or unavailability of oil supplies. This drop in price helped many families regain control of their monthly budget and gave a bit of a well needed financial cushion.
Today, gas prices are on their way back up, decreasing and increasing at a rate of almost 25% a week. This fluctuation in prices leaves many consumers wondering where they stand and what the future will bring. Obviously, an energy shift is going to happen at some point – Barack Obama pledged $150 billion to alternative energy research over the next ten years and is committed to eliminating the United States’ reliance on oil.
In the meantime, how should the average consumer keep their head above water?
Get Used to It
Although the price of gas has dropped for a period of time, don’t ignore all those lessons learned when the price of gas was high. Cut your reliance on gas and be mindful of when you’re wasting it. Don’t run the heat higher than necessary when you’re not at home, keep up your carpooling habits and keep riding that bicycle – hey, bet that helped save on your gym membership, too!
Plan for the Worst
Although no one can predict the future, if you are in the market to purchase a vehicle that may be a gas guzzler, consider what this might mean to your pocketbook. Perhaps we’ve seen the worst in terms of gas prices – maybe we haven’t. The UK Financial Times reported that by 2030, the price of a barrel of oil will be over $200.
They also claimed that oil prices will bounce back quickly, once the economy is back in order. If you are looking to buy a car that you can afford the gas on now, consider whether you could afford it if the price of gas doubled.
Investigate Alternative Sources of Energy
As the option of alternative energy becomes more accessible to consumers, products and services will become much more finely tuned. In the mean time, take advantage of the alternative energy products that have been around for years.
Investing in solar paneling to cut back on the cost of heating your home is currently a viable option and has been under development for decades. Not ready to get that trendy? Then be sure to think of the tried and true - heating your home via an old fashioned wood stove.
Whatever you do to prepare for the future, according to the UK Financial Times and other sources, “the days of cheap oil are over.”Use this respite in high prices to prepare yourself for the worst and if it never comes, enjoy the money you still saved in the meantime.