What’s a consumer to do about the price of gasoline?

Bruce Bullock, director of SMU's Maguire Energy Institute, offers some tips on what consumers can do about the price of gasoline.

1. Make as efficient use of your driving as possible: combine trips, drive less and, if possible, use mass transit. Demand has a very real impact on prices in the big picture.

2. When you do buy a new car, look at purchasing a fuel-efficient vehicle. Consider the gas mileage, how long you plan to own the car, and determine what’s best for your budget.

3. Shop for your gasoline, within a reasonable distance of where you want to fill up.

4. Long term, if you are planning to relocate for a job, carefully consider commuting costs. We are not likely to see inexpensive gasoline again.

5. Get involved. Know your local congressman. Study the issues. Don’t fall for the political fix of the day for gasoline prices. Let your elected representatives know that you want a stable, long-term energy policy.

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