Cruise control - what effects does it have on fuel consumption?

I have recently purchased a car with cruise control. What are the pros and cons of using this with regard to fuel economy. Will I gain or lose driving on cruise control over a substantial distance?

Asked on 19 September 2010 by RW, via email

Answered by Honest John
On the flat, no difference. But cruise will use more fuel to maintain speed up an incline when you might naturally lift off. And it cannot take the advantage you might take descending an incline where it will artificially hold the car back to the pre-set speed. No big deal, though.
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