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March 30, 2010

Looking To Get The Most Miles From Your $3 Gallon?

 

It’s just too early to go electric. These cars are expensive right now ( the Volt, or the Nissan Leaf). Wait for $8 gas or a few years until the price comes down.

So what to do? Forbes says the Honda Fit and the Toyota Yaris subcompacts get the best mileage.

Don’t want to think so small? The Ford Escape small SUV and Volkswagan Jetta sedan can also get a lot of miles to the gallon.

Don’t forget about the hybrids. Not that much engine but…

“If gas prices go up to $4 a gallon, your hybrid, even on the used-car market, is going to be very attractive,” Quincy says. “But you can’t just put pressure on people to buy smaller, more fuel-efficient cars. They won’t until they have to. They won’t do it until the price of gas gets really expensive.”

You can pretty much skip the Chrysler brand. Not too much in the way of gas-sippers there. Wait until next year.

Filed under:Fuel cost,Fuel Cost Control,Fuel Price Trends | by Pump Girl @ 6:26 pm | 

March 29, 2010

World News Leads to Higher Prices

 

Bombings in Moscow, positive economic news send oil prices higher. Oil settling at $82.17 on the NYMEX today.

Per Phil Flynn

“Because Russia is a major oil producer, there are fears that there could be more attacks in the future,” and this could cramp oil supply from the country.

Flynn said traders reacted emotionally and demand is still the key factor. “I think more than anything oil is going back up on increased demand expectations and basically hopes that the situation in Europe is under control,” he said.

Flynn also noted that today’s rise in crude is “exaggerated a little because of the upcoming holidays.”

Other factors: End of the Quarter, Greece, Weak $, and Consumer Spending.

Not to worry all you Passover & Easter travelers. Prices at the pump have actually come down a tad — to $2.80/gallon.

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 6:04 pm | 

March 24, 2010

Oil Prices Up Again

 

We can see which way the wind is blowing as oil prices keep ‘drifting’ higher. Prices may look like they are going down, but at the end of the day, oil closes up. Approx. $82/gal. on Tuesday.

Traders look to Mr. Market and King Dollar.

Analysts say:

“Oil prices were once again just a pawn of the foreign-exchange market as the euro started the day absolutely getting crushed over the Greek debt crisis,” said PFGBest analyst Phil Flynn.

“The dollar still has the potential to appreciate rather significantly and on relatively short notice, and so for the moment, we would be cautious about being long energy,” said Edward Meir, senior commodity analyst at MF Global in New York.

Stockpiles are up. Demand is still pretty weak. Price is up. Contact us if you have any skinny on where prices will go next?

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 5:30 pm | 

March 17, 2010

Demand Picks Up – So Do Prices

 

Prices at the pump have risen a quarter to $2.75/gal in Metro Detroit in the past month.

The bad news: they will be going higher. The good news: probably not to more than $3.

The warm weather is one reason for the spike, but experts say increased demand around the globe, confidence in oil futures and the changeover to the summer blend are all having an impact.

As Tom Kloza of OPIS puts it,

…renewed confidence will drive the price of gas up between now and May, when demand typically goes up and investors “overreact” to the possibility that there will be a fuel shortage in the future.

“Last year, we were at the absolute bottom of the malaise,” he said. “People were selling their commodities contracts and the markets got much smaller.”

Whatever the cause, the rising price of gasoline is one big pain for motorists and gas station owners as well.

Filed under:Fuel cost,Fuel Price Trends | by Pump Girl @ 6:00 pm | 

March 15, 2010

MythBusters by Ford

 

Ford refutes 5 bits of auto advice you learned at mother’s knee.

1. Change your oil every 3,000 miles. FALSE. This used to be true, but no longer. More like every 5,000 miles. Put that extra $50 back in your pocket.

2. You need to warm up your engine in cold weather. FALSE. Maybe 10 seconds is all you need. Save your gas.

3. Premium gas is a treat for your car. FALSE. Unless your car specifically needs it, you’re wasting your hard-earned bucks.

4. The number on the side of your tire is the recommended tire pressure. FALSE. No, silly, that would be the maximum tire pressure. Look inside the door for the recommended amount and make sure that’s the pressure in your tires. You waste gas by driving around on under-inflateds.

5. Buy gas in the morning before it ‘heats up.’ FALSE. Those gas tanks are underground in non-metallic tanks. It would take quite a bit to raise the temp even 1 degree.

Filed under:Fuel Price Trends,Fumes | by Pump Girl @ 6:04 pm |