With the national average of unleaded regular gasoline above $3.15 and oil's recent price surge not fully felt by refiners yet, there's a good chance gasoline will hit $4 per gallon this summer in the United States, particularly if driving patterns mirror previous summers.

Moreover, gasoline is already above $4 in certain high-cost zones in California and in Hawaii, the Associated Press reported Friday.

What's a good way to cope with the above? Turn it your advantage, to the extent possible, at both ends. Accordingly, here are a few tactics for investors and consumers in the $4 gasoline era.
Two stocks: Transocean and Oceaneering

Avoid the integrated oil stocks and refiners, for now, and instead concentrate on the oil service plays. Two reviewed earlier in this space are Transocean Inc. (NYSE: RIG) and Oceaneering International (NYSE: OII). Each offers drilling and related services to the oil/natural gas sector.

The two are favored here because while oil and gasoline production and price conditions can vary by nation and region, the trend regarding increased oil use remains secular and global: as emerging markets develop, we're going to need more oil, until a widely-accessible, affordable alternative energy source is discovered/developed. And that means more oil rigs, and repairs, which bodes very well for RIG and OII.

RIG and OII are moderate-risk stocks not suitable for low-risk investors. That means if you can't tolerate a 30% pullback for the stock, don't buy it.

Also, if you purchase these shares, put a sell / stop loss at $84 for RIG, at $42 for OII.

Consumer tips

These consumer tips are fairly well known, but it's amazing how many people forget how much money they can save from small changes.

• Drive a high mpg vehicle: there are dozen of models. The important point is to think in terms of a 23-30 mpg car. Keep in mind that vehicles become less efficient with age, so the higher the number the better.
  

• Keep the vehicle's engine tuned. An un-tuned vehicle engine can decrease gas mileage by 10% or more.

• Keep the tires properly inflated. This is major source of needless gas consumption. Tires lose up to 1-2 pounds of pressure per month, so check them at least monthly.

• Reduce highway speeds. Almost all vehicles get getter gas mileage at 60 mph than at 70 mph, and even better mileage at 55 mph than at 60 mph.

• Anticipate driving conditions: If the light ahead is about to turn to red, take your foot off the gas, if it's safe to do so. Accelerating to a light simply wastes energy as heat. Likewise, accelerate slowly from a green light.
  

• Air conditioning: In general, for almost all vehicles, at highway speeds, if it's warm enough to roll the windows down, roll them up and use the air conditioner instead. Driving with the windows down almost always increases your vehicle's drag coefficient, which increases the gas needed to move it.

• Use super unleaded only if you need it. Most vehicles are designed to run on regular unleaded gasoline with an octane rating of 87.

• If possible, walk more. If you can walk to mail a letter or complete an errand, consider it. Also consider entertainment that's closer to home.

• Finally, consider using mass transit, if possible.

Armed with RIG or OII and the above conservation tips, you may be able to cancel-out the effect of rising energy costs. Most certainly, you will feel a lot better as the price of gasoline continues to spiral higher.

Disclosure: Lazzaro has no positions in stocks. In addition to private real estate holdings, he owns corporate and municipal bonds, and cash certificates of deposit.