Save Money on Gas Tips from Consumer Reports

In the June issue of Consumer Reports, the magazine gives its readers some ideas to save money at the pump. In addition to tips that we have already knew, such as avoiding rapid acceleration/stop, there are also tips that I didn’t know before or haven’t paid any attention, such as the rolling resistance of tiers. The conclusions were based on tests the agency conducted with Toyota Camry and other vehicles.

• Drive smoothly: Frequent rapid acceleration and breaking reduced the Camry mileage by 2 to 3 mpg.
• Drive at a moderate speed: Driving at 55 mph instead of 65 or 75 mph can save money. When the Camry goes from 55 mph to 65 on highway, its fuel efficiency dropped from 40 mpg to 35.
• Reduce unnecessary drag: Don’t carry things on top of your car if you don’t have to.
• Don’t use premium fuel if you don’t have to: If your car need only regular gas, don’t buy premium. Your engine won’t run better with higher grade gas.
• Minimize driving with a cold engine: Making multiple short trips and starting the engine from cold each time can reduce fuel economy by nearly 4 mpg.
• Keep tires properly inflated: When the Camry’s tires are under-inflated by 10 psi, the loss in mileage is 1.3 mpg.
• Buy tires with lower rolling resistance: The rolling resistance of tires can further reduce the car’s fuel economy by 1 to 2 mpg. By high-rated tires with lower rolling resistance.
• Avoid idling for long period: When your car is idling, it gets zero mile per gallon. Turn off the engine when you expect to stay longer than 30 seconds (??).

BTW, oil price has broken all-time record everyday this week. Now, crude oil is traded above $123 a barrel (Bloomberg) and the national average of regular gas is $3.665/gallon (gasbuddy.com).

Featured Information: Gas Rewards Credit Cards

Feeling the pain at the pump? Get up to 5% cash rebate for the money you have to spend from these gas rewards credit cards:

Discover Open Road Card: With Discover Open Road Card, you can earn 5% cashback on gasoline purchases at any stations where Discover is accepted. Plus, it also offers 5% Cashback Bonus on auto maintenance. However, the drawback is only the first $100 are eligible for 5% bonus. Other purchases earn 1% Cashback Bonus.

Chase Freedom Credit Card Chase Freedom Card is the gas reward card I am using, though not exclusively for gas purchase. The card gives 3% cashback on all purchases at any gas station. But it comes with a catch: Gas purchase must be one of top 3 categories in monthly spending to e receive the 3% reward. Otherwise, the rebate will be just 1%. In addition, the card also has a maximum of $18 you can earn on 3% bonus every month.

American Express and Costco TrueEarnings Card The TureEarnings Card just added gas to its rewards program. Now it allows cardholders to earn 3% cashback on all gas purchase. The TrueEarnings card also gives back 3% bonus for restaurants, 2% for travel, and 1% everywhere else including at Costco. There’s no limit on cash rebates you can earn. The TureEarnings Business Card gives a even more generous 5% cashback on gasoline.

More card offers can be found here.

photo credit: williamhartz

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