|
ATLANTA, July 23, 2008 — According to Don Patrick, an Atlanta-based independent financial professional, surging global oil demand will ensure an upward trend in oil pricing. “Decisions being made by OPEC and other oil-producing countries, stagnant production in Iraq, and ongoing concerns about political and supply stability in a number of oil-producing countries mean that we’ll have to deal with higher crude and gasoline prices for some time,” says Patrick.
With the average price of a gallon of gasoline having now surpassed $4.00, it may be time to develop some long-term survival strategies to deal with high gas prices. Patrick suggests these five tips to help ease the pain at the pump:
Shop Around
“Driving around looking for deals on gas burns precious fuel - the fuel you’re trying to save,” says Patrick. “Instead, log on to a website like http://www.GasBuddy.com to help you find the cheapest gas.”
Drive to Conserve Fuel
Patrick advises consumers to tune up cars regularly, keep tires properly inflated and reduce the amount of stuff in the trunk and backseat of the car. “Another way to conserve fuels is to avoid speeding as engines operate most efficiently in the 55 to 60 miles per hour range,” says Patrick. “You’ll also save fuel by braking and accelerating gradually.” Patrick also suggests that instead of running the air conditioning constantly, roll down the windows when stalled in traffic.
Choose Public Transit
Cities across the country are reporting increased numbers of people using mass transit. In fact, according to the American Public Transportation Association, Americans took 2.6 billion trips on public transportation in the first three months of 2008, 85 million more trips than the same period last year. Not surprisingly, the Federal Highway Administration has reported that the vehicle miles traveled on our nation’s roads declined by 2.3 percent in the first quarter. “Many people in larger cities consider taking public transportation, but don’t really see the tangible benefit,” says Patrick. “There is a great website that shows exactly how much you can save by taking public transportation at http://www.publictransportation.org.”
Reduce Your Carbon Footprint
Patrick advises that people try to bicycle or walk whenever possible. In addition to saving on gas, the decision is a healthier move. The editors of Bicycling magazine report that they see big changes in urban centers that may be the beginning of a far-reaching pro-cycling movement. “Another way to reduce your carbon footprint is to carpool,” says Patrick. “In addition to carpooling to work and school, take the time to organize weekly errands into fewer trips and perhaps organize neighborhood transportation and errand schedules.”
Think Small
If you’re in the market for a new vehicle, try buying one that is more fuel-efficient. The U.S. Department of Energy’s Fuel Economy site (http://www.fueleconomy.gov) or the EPA’s Green Vehicle Guide (http://www.epa.gov/greenvehicles) provide extensive information on which vehicles get the best gas mileage. Patrick also advises consumers to take a good look at auto manufacturers that are offering new car buyers three years of gas at $2.99 a gallon. Other car dealers are offering a year or two of free gas with the purchase of a new car.
About Don Patrick and Integrated Financial Group
Don Patrick, Managing Director of Integrated Financial Group in Atlanta, Georgia, has been serving clients as a financial advisor for over 26 years. Patrick earned his MBA from University of Southern California and hold a BA from Loyola University Los Angeles in finance and economics. He is also a member of the Financial Planning Association, the nation’s largest organization of professionals dedicated to championing the financial planning process. He has completed additional studies and passed a rigorous certification examination and is authorized to use the CFP(R) mark of distinction.
» No Comments
There are no comments up to now.
» Post Comment
|