How to beat rising oil and gas prices

AP Photo/Ben Margot

When a rumored explosion at a Saudi Arabia pipeline caused crude to jump over $110 this week, it underscored just how anxious investors are right now. As a reminder, the majority of the increase in oil from the October lows of around $76 a barrel can be attributed to a general pick-up in the economy combined with rising demand from China and India.

Back in October, investors and economists were concerned that a European meltdown would drag the world down into a second recession, which is why stocks were trading at 52-week lows (the Dow fell to about 10,500) and oil tumbled accordingly.

Between October and the beginning of February, Europe avoided a disaster and the economy improved, which is why crude oil gained $20 and was trading at $96. But don't blame the last leg up in prices from $96 to $108 on U.S. consumers -- it's all about tensions over Iran. In fact, U.S. crude imports fell to the lowest level since 1999, according to the U.S. Energy Information Administration. Imports as a share of U.S. oil consumption has now dropped to 44.8 percent, the lowest proportion since 1995, and well off the peak of 60.3 percent in 2005.

Although U.S. consumer behavior isn't responsible for the spike in oil and gas, they are left with gas prices that have surged $0.30 per gallon over the past month. While we hope for Middle East tensions to abate, in the mean time, there are some practical things you can do to save money at the pumps. Check out this quick video on the topic:

[SantaFe66100]

Right! He's not stopping drilling, he's not preventing off-shore drilling, he's not saying, every chance he gets that America needs to embrace alternate clean energy and in the meantime letting prices continue to climb just like Chu says they want.

There is no immediate, practical, efficient source for clean energy. Everything Obummer has suggested will take over 10 years or more to reach the market. You could cover every square vacant mile with solar panels and it still wouldn't meet the need. Why is Obummer ignoring Natural Gas as a fuel, or Nuclear? Answer....it doesn't bode well for his re-election. His base is environmentalists and liberals. They will bleat from the rooftops that we need clean energy but there isn't the money nor infrastructure to do it now. Maybe 10 years.... What do we do in the meantime as this Liberal, Environmental utopia comes to be? Stop producing the only fuel we can economically produce? Stop trucks, trains, planes, cars and everything else that relies on petroleum? That is incredibly stupid and Obummer just doesn't care because he's an idealogue and a socialist and his end is all he wants no matter what we the public have to suffer for him to get it.

No thanks, Obummer! I'm voting your sorry, lying carcass out come November.

[rhiebert]

Using superior synthetics in the engine and transmission and the superior fuel additive will also go along way, ie. noticeable 5% reduction in fuel consumption plus superior protection against wear on those pulling and uphill mountain drives.

[elbanano09]

If you really want to know why gas prices are high:
http://www.youtube.com/watch?v=S8WReKlUFP4

[foo8259]

One trick I do about once or twice a year is clean the carburetor (actually it's a throttle body with fuel injection)with a toothbrush and solvent -- while the engine is OFF of course. That black gunk in there will eventually form a ring around the throttle flapper (for lack of a better word)this confuses the computer when the mixture gets too rich. This can cause rough idle and increased gas consumption at low speed (in traffic or while waiting for a light to change)a clean fuel system makes a noticeable mileage improvement. In fact I think it's time to check 'n clean engine and filters again since I just filled up my Dodge truck the other day.

[lami987]

America can easily have lower gas prices only if congress would limit and regulate fuel export by our oil companies. Fuel is the largest US export more than food, weapons or airplanes or anything else. Every single drop of Alaskan oil is exported. Oil produced from the proposed Keystone pipeline is also targeted for export. Our irresponsible politicians keep screaming for more drilling is just to please the uncontrollable greed of our oil companies. What we need is to stop the unlimited and uncontrolled export of our fuel. We must let our politicians and oil companies know that oil produced here belongs to we the people.

[Gas-Saver]

Oil is based on the almighty US Dollar. A weak dollar means higher gas prices... a Threat of war does help the price of gas either. Make our Dollar Strong again... Stop Printing money. The might help you out there. I found 35 of the Best Gas Saving Tips on the net. http://geetis.com/best-tips/

[fiberglass3]

by SJC_33 March 3, 2012 4:50 PM EST
The rich Republicans in the board rooms are keeping unemployment high and raising gas prices as political weapons.
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Here Here

[douxs]

Go on welfare.

[js2212]

I just hop across the Mexico border and fill up there. Pemex is just 2.75 a gallon. Then I grab a taco and head back. Sometimes I put a bet down at the bookie.

[venusvegasvada]

"When a rumored explosion at a Saudi Arabia pipeline caused crude to jump over $110 this week, it underscored just how anxious investors are right now."

Really? Try replacing the word "anxious" with "greedy".

I seem to remember just a few months ago when there was a call for finding out how come gas prices were rising when at the time, we had an excess of oil in the US and were actually exporting oil?

What's up with that?

I think it's all BS. Typical Wall Street Greed sticking their hands in our back pockets again- and getting away with it, again.