How to adapt with soaring fuel prices

April 26, 2022 18

If you thought fuel prices were high last year, they just got higher. The needless war between Russia and Ukraine has caused global oil prices to rise substantially at a time when living costs, in general, are higher than ever before. So what’s the solution? There must be one somewhere.

Actually, there are quite a few. The fact is we can continue to live in the way we always have, continue to pay the going rate for fuel and insurance, or we can use our in-built human creativity and ingenuity to adapt to the new normal. We can change how we live and work.

Change the way we drive

With the ongoing Russia-Ukrainian war overshadowing the global energy market, we can no longer rely on reasonable prices at the fuel pumps; instead, we need to take matters into our own hands. There’s not much we can do about the oil prices, but we can change our habits.

Talk to any advanced driver, and they will tell you that substantial sums of money can be saved annually by adapting our driving style. A vehicle uses less fuel when the engine is warm and the revs are low; this is often the case on highways. But this can also be achieved in urban areas.

fuel gas prices

Adapt the running fuel costs

Electric vehicles and hybrid vehicles are becoming more common nowadays, but while they have a low fuel cost, they come with a hefty price tag. For this reason, many people stick with their combustion engine and look for ways to reduce the costs; one way is with insurance.

In most cases, vehicle insurance plans are paid annually and based on a set of driver criteria. The amount you pay after depends on your age and driving experience, but there is another option. Choose a pay-per-mile car insurance premium, and you only pay for the miles used.

Car share when possible

Car sharing has been around for decades as a solution to congestion and reduced running costs. These days, there is the added environmental factor to consider; but that’s simply another good reason to contact your neighbors, co-workers, and friends to organize some car-sharing.

Private car ownership is still the most popular mode of transport – you only have to look around you on your daily commute to see the extent of it! But that doesn’t mean it’s here to stay. We might be hitting peak ownership at the same time as hitting peak oil and moving to car-sharing.

If there’s one certainty in life, it’s that things change, and when they do, the only question is how well can adapt? In the case of car ownership, things have been stable for decades. Of course, oil prices have fluctuated now and then, but peak oil was always a generation away.

Not any more! Peak oil is very much on the horizon, and regardless of what’s happening in Eastern Europe politically, changes must be made to our way of life to protect the present and the future. The good news is that humans are an adaptive species – it’s one thing we’re good at.