Life in general is expensive so most people want to save money wherever they can. Most people need a vehicle to commute back and forth to work. Whenever you’re driving your vehicle you’re going to go through gas, which is just one of those pricy things you need to pay for in life. Improving your gas mileage is always something people are interested in so let’s talk about that and about how gas prices are even determined. What does control the price of gasoline anyway?
Well pay attention because I’m about to break it down for you. There are four main factors when it comes to determining the price of gas. The first factor is crude oil which comes in representing about 70% of the cost of a gallon of gasoline. That’s the largest factor in determining gas. Crude oil is a commodity that’s traded on the open market. The price of crude oil can fluctuate based on supply and demand, speculation, and global unrest so this has a lot to do with why the prices of gas often fluctuate.
Now let’s talk a little bit about the second contributing factor on determining gasoline prices. This one is pretty common and affects everyone a little differently across the world but still does have an impact on everyone and almost everything we buy or sell. If you’re guessing taxes than you’ve got it right. Taxes on a nationwide perspective represent about 13% of the cost of a gallon of gasoline. Then comes in the next factor; this counts for 11% of the cost of a gallon of gasoline. This 11% of the cost comes from the refining process of the fuel. The refining process is when you take the crude oil and turn it into gasoline which is key in the development of the gas you fuel your car with. Then lastly we have the distribution and marketing of the fuel which counts for the last 9% of the cost of gas. Now you know what makes up the price of gasoline. Unfortunately you can’t control any of those factors but there are ways you can reduce the fuel consumption of your vehicle.
It’s important to save fuel to protect the environment but it’s also great to keep a few extra dollars in our wallets. There is a number of easy things you can do while driving to help you get the most out of a gallon of fuel. You may be putting off your regular car maintenance but not keeping proper maintenance of your vehicle could affect its gasoline consumption. To keep more gas in your tank, make sure you or a professional properly maintains your vehicle. Check your oil and make sure your tires are properly inflated. That alone can make a huge difference in the fuel consumption. You can also help save on gas if you change the way you drive a little bit. If you have a lead foot try to lighten it up and slow down a little bit. By accelerating slower you can really improve the fuel economy of your vehicle with no extra fees. You can save some gas by planning your trips ahead to take the shortest route with the least traffic as well. Lastly, don’t’ carry around extra weight in your car. If you have anything in it that you don’t need in it, unload that and leave it at home. Use these tips and it will help you to save money on gas and you’ll be helping the environment.