NEW YORK (CNNMoney.com) -- The biggest oilfield in the United States is shutting down because of severe corrosion. Alaska's Prudhoe Bay pipeline supplies about 8 percent of the nation's oil supply. Keep in mind, this pipeline had the biggest ever recorded oil spill in that region five months ago.

Some analysts say the price of gas could rise 3 to 5 cents a gallon, breaking the all-time record of $3.057 that was set following Hurricane Katrina. The West coast is likely to be most directly affected since it uses more Alaskan crude.

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But take heart as Tom Kloza of the Oil Price Information Service says these higher prices are mainly an emotional reaction. The price of gas is threatened more by tropical storms and Middle Eastern turbulence. The overall impact may be less severe than the effects of Hurricane Katrina or Rita. And by September 15th, prices will begin to go down. Analysts expect the release of oil from the U.S. Strategic Petroleum Reserve to mitigate the lost supply of oil.

When events like this happen, you have to keep a wary eye on opportunistic gas stations. If you notice a particular gas station that has dramatic price swings of more than 20 cents in 48 hours, it's a sign you may be getting gouged, according to AAA. Find out the average gas price in your area at AAA's fuel gauge report.

If prices at a station is more than 5 cents above your regional average, make sure you get a receipt and lodge a complaint with your state's Attorney General. You can also report gas gouging to the Department of Energy by clicking here or by calling 800-244-3301.

The most significant way to save gas is you. Curbing your aggressive driving habits can save you up to 37 percent. Don't accelerate too much when you start up and try to brake easy. If you slowed your 0-to-60-mph acceleration time down from your current 10 seconds to a more normal city pace of 15 seconds, you'll feel the savings immediately, according to Edmunds.com.

Following the speed limit is just another way you can save big dollars. In fact, you could save up to 14 percent just by following the speed limit. Using cruise control on long highway stretches can even save you 7 percent on average.

Clean out your trunk! There's no need to keep your beach chairs in your car. Removing excess weight from your vehicle can improve your gas mileage. In fact, an extra 100 pounds of weight in your car reduces how many miles you get per gallon by 2 percent.

Don't forget to keep your tires inflated to the right pressure. Under-inflated tires can lower your gas mileage. Replace clogged air filters on your car. This can save your car's mileage by as much as 10 percent. And not only will replacing a dirty air filter save gas, it will protect your engine. This is especially true if you drive in cities where dust, smog and soot are common.

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