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Gas prices expected to skyrocket this summer

It was all over the news this week – gas prices will surge toward $5 a gallon by late summer. Prices are already headed toward $4 per gallon. Overall, prices are up 10 percent from the start of the year.

Why? What other reason would there be? Turmoil in the Middle East. Oil prices spiked this week after Iran's oil ministry said it would stop exporting oil to French and British companies, a reaction to sanctions from the U.S. and the European Union. 

So without a doubt, we'll all be wincing in pain as we pump this summer. So how can we lessen the blow? Here are 10 tips to help you keep gas in your vehicle without going broke.

• Vehicle maintenance saves gas. Use the recommended oil, replace dirty air filters, and keep your tires inflated to the proper pressure, as well as tune up your engine.

• Flooring the pedal and slamming on brakes uses a surprising amount of gas. Drive more moderately and you could save more than 30 percent of the gas you use.

• Lighten the load your car has to bear. Keep the luggage off the roof and empty your trunk. The heavier the weight of the stuff in or on your car, the more gas your car will use. 

• Bike or walk whenever you can to save gas. It's healthy for your wallet and your waistline.

• Try to avoid rush hour traffic. An idling engine uses a lot of gas.

• Consider opting for a hybrid or alternative fuel vehicle. 

• Drive at the speed limit, and save up to 14 percent on longer trips.

• Use your cruise control. Keeping your car at a consistent rate saves gas.

• Use public transportation when you can and leave your car at home.

• Check into alternative fuel like biodiesel, a blend of gas and ethanol. Find out what's available in your state and whether your car will run on it. 

Published Feb 23 2012, 11:43 AM by moneycoach
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