The following report estimates a 4.7% reduction in fuel consumption. This is fairly significant since the initial manifestation of peak oil seems to be a shortage of light crude feedstock for gasoline production.
Then again, there is the faith based science approach that any measure that may take a bit of sacrifice is worthless and will have no benefit.
Saving Oil in a Hurry: Measures for Rapid Demand Restraint in Transport
International Energy Agency
28 February 2005
Reductions in speeds during a fuel crisis can be implemented in many ways. For example, in the United States, during the 1970’s fuel crisis, a national speed limit of 55 mph (90 km/hr) was implemented. Initially, this policy was very effective, primarily because of altruistic behaviour and a determined enforcement regime.Table 2-35: Consensus estimate of effect of reducing speed limit to 90 km/hr
US /Canada
Thousand barrels saved per day 727
Percent transport fuel saved 6.2%
Percent total fuel saved 4.7%
Table 2-29: Fuel Economy by Speed, based on ORNL
Percent Change In Fuel Economy
55–65 mph 11.0%
65–75 mph 17.7%
55–75 mph 30.6%
Note: Based on Model years 1988–97 automobiles and light trucks, based on tests of 9 vehicles.
Oak Ridge National Laboratory (ORNL), 2003, Transportation Energy Data Book, Edition
22,
http://www-cta.ornl.gov/data/Download22.html.