(QT Auto News) – Gasoline prices have trended upwards during the first two weeks of January with nearly a 20 cent increase at the pumps since December. Will prices continue to skyrocket in the future or is it a temporary market fluctuation?
Short term, expect that volatile prices will continue especially with instability in the Middle East. Moreover, during the next few years, the growing Chinese automotive market will put an ever-increasing pressure on oil prices.
Be prepared for this year’s Hurricane season, as speculators drive gasoline prices higher with Gulf area production closures due to weather.
As a consumer, we have very little control over market fluctuation. Political unrest and supply shortages will always drive prices higher. But as a consumer, we control the demand side of the equation.
An immediate reduction in demand would take place if we simple improve our driving habits.
- Slow down. Drive at 65 MPH instead of 75 MPH.
- Maintain proper tire pressure.
- Minimize acceleration
- Anticipate traffic conditions to prevent stopping
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