Talk about a moving target…I went by Costco last week about 10 a.m. – a gallon of gas was about $4.38. Shortly after lunch, I drove by that same station and gas had jumped up to $4.45 per gallon!
The unthinkable is just around the proverbial corner: $5 a gallon. Would you believe the possibility of $6 a gallon this time next year? Its really not that far-fetched.
Never have so many people attempted to collectively solve a problem. It seems like every one has an answer about why gas is driving inflation: commodity futures, weak dollar, and gouging by big oil companies, to name a few.
Meanwhile, the masses gripe and pump, pump and gripe, and bitch, bitch, bitch, life goes on – with the price of gas doubling during the past year.
Short of abandoning your SUV in an airport parking lot and running for your life, here’s a few common-sense actions that you can take to lighten your heavy-duty gasoline load.
- Purchase a Prius or motorcycle. Indeed, these two modes of transportation drastically reduce your gas cost per mile by about half. Regular cars use between 20-25 cents of gas a mile to operate. A Prius or motorcycle reduces that cost to about 10-12 cents a mile.
- Another option is to reduce the distance of your commute. The obvious way (and the biggest hassle) is to relocate closer to work. Keep in mind, however, that no job lasts forever, and you don’t want to live someplace you hate only to lose your job six months after moving.
- Car pooling is also an excellent way to roll (especially if you’re car pooling in a Prius). The idea of being on other peoples’ schedules may take some gettig used to, but the short-term adjustment is well worth it.
Long term, if you took action to either reduce your commute, or switch to a higher MPG mode of transportation, you could put your gas savings into a 401k plan and have an extra $100,000 in your account by 2028.
At the end of the day, we love our cars. Until we get over this love affair we are all at the mercy of whatever is causing this problem. Your options are limited, but they do exist. I suggest you take a few minutes to write down on a piece of paper how long your commute is, what kind of mileage you get, and who in your office lives near you.
Armed with facts, you can then make a decision – send your kid to college of fill up your tank:-)
Rich