By Rebekah Hall University of Arkansas Division of Agriculture
Arkansas drivers are paying higher gas costs at the pump, and a financial expert with the Cooperative Extension Service says some households may need to adjust their spending habits to accommodate increasing gas prices. According to AAA, the average price of regular unleaded gas in Arkansas was $4.076 per gallon as of May 15. That’s up 44% from a year ago when gas prices averaged $2.818 a gallon.
“Reducing other expenses can allow more income to be used to cover the cost of gas,” said Laura Hendrix, extension associate professor of personal finance and consumer economics for the University of Arkansas Division of Agriculture. “Sometimes it is necessary to adjust a spending plan to allow for uncontrollable changes in expenses. When gas prices return to normal, you can resume your regular spending habits.”
In the meantime, Hendrix shares these tips to help make ends meet:
· Watch your speed. According to the U.S. Environmental Protection Agency, driving 55 mph instead of 65 mph improves gas mileage by 15 percent.
· Avoid aggressive driving. “Eliminating ‘jackrabbit’ starts and stops can help improve gas mileage by 5 percent,” Hendrix said.
· Use cruise control when appropriate. Steady driving uses less fuel.
· Use air conditioning less. “It can help to use air conditioning as little as possible,” Hendrix said. “However, on warm days, running the AC may be more cost-effective than driving with the windows down, which can cause drag and reduce aerodynamics.” The U.S. Department of Energy recommends rolling the windows down at lower speeds and using the AC at highway speeds.
· Remove excess weight. An extra 100 pounds in the trunk can reduce fuel economy by up to 2 percent, according to the Department of Energy. “Excess weight in the luggage
rack on top of the car also creates wind resistance, causing additional reductions in fuel efficiency,” Hendrix said.
Drive smart According to AAA, Arkansas currently ranks among the nation’s 10 least expensive gasoline markets. For many Arkansans, however, higher prices at the pump are causing strains on the wallet, Hendrix added.
Hendrix said it’s important to shop around for the best gas prices near you. Compare gas stations, and remember to check the octane level, which measures fuel stability, if necessary.
“Refer to the owner’s manual for the recommended octane level of gasoline for your car,” Hendrix said. “Don’t buy a more expensive octane level if your car doesn’t need it.”
By planning trips ahead of time, you can also reduce miles by combining errands so that you make stops along a planned route, Hendrix said. To spend less time driving in general, make plans to carpool, walk when possible or ride a bike. Check the availability of public transportation in your area or work remotely from home, if possible.
Be efficient when choosing a vehicle. “If you own more than one vehicle, drive the one that gets the best gas mileage,” Hendrix said. “If you are looking to purchase a new vehicle, consider energy-efficient options such as electric or hybrid.” Visit the extension Personal Finance page to learn more about building financial security, money management and more.
To learn about extension programs in Arkansas, contact your local Cooperative Extension Service agent or visit uaex.uada.edu. Follow us on Facebook and Instagram. To learn more about the Division of Agriculture, visit uada.edu. To learn more about ag and food research in Arkansas, visit the Arkansas Agricultural Experiment Station at aaes.uada.edu.
