by 
The Curious Bag
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Power steering fluid is a type of hydraulic fluid that is responsible for transmitting power into the power steering system in an automobile. Just like with other fluids in the vehicle, power steering fluid must be replaced as part of regular maintenance. Choosing the right power steering fluid can have an impact on the performance of the vehicle and the duration of the fluid's effectiveness.
Cost
Power steering fluid is touted as being the most inexpensive element of a power steering system. Unlike some fluids and most automotive parts, a higher cost in power steering fluid is not likely to have an impact on the quality of the fluid or the benefits that it offers. Do not choose a bottle of power steering fluid based on its price point, as this is no real indicator of how effective the fluid will be in the vehicle. The retail price for a bottle of fluid can range from $2 to as much as $10.
Brand
Buy a reliable brand. Many familiar automotive brands offer power steering fluid: Prestone, Lucas Oil, AutoZone, Valuecraft, Gold Eagle, Coasal, Casite and Valvoline. Solicit help from employees in the automotive section or automotive shop for reviews on popular products.
Benefits
In addition to the actual power steering fluid, some products offer other additives and benefits. Stopleak is a common additive for power steering fluid that is designed to eliminate and prevent leaks. Lucas Oil Stop Leak caters to worn rack-and-pinion power steering systems. Choose a product based on your specific needs.
Source:
Car Talk: Power Steering Fluid
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