With the price of crude oil and fuel ever increasing it has a knock on effect on the price we pay for food at the supermarket, clothes for our children and of course the cost in filling up our vehicles.
Recent trends have shown that global demand for fuel has continuously declined since 2008 which, in turn, correlates with the gradual increase in fuel since the same date. Higher costs in fuel have resulted in fewer cars on the road, showing that although fuel is a necessity it is a price sensitive product, going against many supply and demand conceptions.
Another factor that correlates directly with this drop in demand of fuel is the growth of the eco-friendly car market, which includes alternative automobiles such as Hybrid, Fuel Cell and Electric powered cars.
Over the past decade the consumer has become more and more conscious of the damaging effect Co2 has on the environment. Co2 is the main harmful by-product caused by our driving; however the automobile market is now full of mean, green eco-friendly machines.
Eco Friendly Cars
Cars with lower Co2 emissions can benefit the environment and our pockets, due to savings on fuel and road tax. Alternative fuel methods for mainstream automobile use are still in the early years of development however, arguably, for the first time they are viable. The most developed of such is the Hybrid electric engine mainly due to the success of the award winning Toyota Prius which has sold over 1million units worldwide.
Vehicles powered by fuel cell technology are in a market of growth which is led by the development and ground breaking designs of the Honda FCX Clarity. Honda FCX Clarity is the first ever hydrogen production car meaning that its only by-product is water (h2O) and not CO2. This is any eco-warriors dream car because of its zero emissions.
Fuel Saving tips
Although the obvious answer to reduce fuel is to change the gas guzzling car for a new fuel efficient model, however in reality many of us cannot afford to do this, which creates a vicious cycle of dependency on non-renewable fuel. Despite this it’s not all doom and gloom as there are plenty of little things we can all do with our current vehicle to improve its fuel efficiency and in-turn reduce our spend. Below I have highlighted sure-fire tips which will result in improved fuel economy.
- Open the windows – Although it is now winter for many of us, if we do have an unsuspected heat wave instead of turning the air-con on full, try opening the windows to let fresh air in.
- Slow Down– This is seen as the main culprit for fuel wastage. In a culture where we are always in a rush to meet deadlines, get to meetings and even just to get home we ruin our cars overall fuel performance. In the age of the commuter try to plan journeys and allow more travel time.
- Avoid the Rush hour– The 9-5 daily grind is always made worse by the early morning and evening rush hours en route to and from the office. If it is a possibility try set off an hour early in the morning to avoid the traffic altogether and spend an hour in the gym before work.
- Shop around for fuel– Supermarkets are usually the cheapest supplier for fuel so tie in filling the car up with the weekly food shop. Another tip would be to fill up the car with each visit to avoid regular un-needed trips to the pump.