How can you save money on gas and ease that pain at the pump? One way is to get a fuel-efficient vehicle. Read on to learn our picks.
The national average for a gallon of regular gasoline in the US has experienced unprecedented price swings in recent years. But in March, gas prices skyrocketed past the $4 a gallon mark for the first time since the 2008 economic recession and they have continued to rise. How did we get here and what steps can you take to ease the pain at the pump?
US gas prices reach record high
The current gas price surge is a combination of many factors at play simultaneously. Stay-at-home orders went into effect in early 2020 due to the pandemic, which caused a decrease in oil production worldwide because of the plunge in demand.
Recent removals of COVID-19 restrictions meant more people were returning to the office for work and leaving their homes for shopping, entertainment, and travel. However, the US and global oil companies have kept production targets low due to supply chain and hiring challenges. Now, there are 1 million fewer barrels of oil a day available to be broken down into gasoline.
Also, Russia is one of the largest oil exporters in the world, so its invasion of Ukraine largely contributed to record-high gas prices. Multiple sanctions put on Russia as well as western countries phasing out Russian oil imports have negatively affected oil prices for the global commodity market. For instance, the US price for a barrel of gas went up 30% in the first 12 days of the invasion.
State legislators are brainstorming relief options
Higher gas prices can negatively impact the US economy because people have less discretionary spending budgets. So, policymakers across the country are searching for temporary solutions to keep more money in drivers’ wallets. There were bills proposed in 20 states to suspend gas taxes and 16 states are working to provide people with tax rebates, credits, or stimulus payments.
Improve your fuel economy
If these relief packages are not enough, there are steps you can take to make your car as fuel-efficient as possible. Avoiding rapid acceleration and hard braking can increase fuel efficiency by 15-30% on highways and 10-40% in stop-and-go traffic. Following speed limits and reducing your speed by 5-10 mph can have a 7-14% increase in fuel efficiency.
Anticipate road conditions, avoid excessive idling, and try to travel outside of peak traffic hours. This could help save up to half a gallon of fuel per hour. Also, practicing good car maintenance can improve your fuel economy. For example, remove unnecessary heavy cargo from the vehicle, perform regular oil changes, check tires for proper inflation, and reduce your use of air conditioning.
Photo Credit: Car & Driver
Most fuel-efficient gasoline-powered vehicles
Although we are in the middle of a gas price crisis, there are affordable and fuel-efficient cars available through IAS that can help you save money. Here are five models you can buy today through International AutoSource.
This compact yet spacious model has a fuel economy of 35 mpg combined. This car comes standard with 158 horsepower turbo four-cylinder and a six-speed manual transmission. The most fuel-efficient version of the Volkswagen Jetta uses an eight-speed automatic transmission.
This extremely affordable front-wheel-drive car with an equipped automatic transmission has an EPA combined rating of 35 mpg.
The Forte saves on gas on the highway at 41 mpg and an EPA total range of 490 miles. It comes standard with an 8-inch touch screen and enhanced technology.
Its fuel capacity is 13.2 gallons and can reach up to 38 mpg. The Toyota Corolla has a total range of 462 miles per tank with 169 horsepower.
The Nissan Sentra proves that affordable and efficient cars can still be stylish and can go an EPA-estimated 409 miles between fuel stops.
How the IAS programs can help you
IAS is ready to assist you, your assignees, or employees in getting a fuel-efficient vehicle when relocating to the US without breaking the bank. Our expatriate programs provide full-service solutions to finance, lease, or rent a car. The IAS team is here to help you every step of the way without needing a local credit history. Top-selling models from the leading automobile manufacturers are available and expats can have vehicles custom built to their exact specifications.
About International AutoSource
As the vehicle experts for expats, International AutoSource has helped over 50,000 international and domestic assignees get a vehicle for their relocation to the United States.
Our factory-backed financing programs for foreign executives, healthcare workers, business professionals, students, teachers, and the diplomatic community feature low rates and are designed to get assignees approved quickly and easily.