I drive in mountains that kind of roll here in Vermont, with an automatic, generally. The technique that has yielded the best results are for me to pick a target RPM and speed. I accelerate on the downhill, not exceeding the RPM, till I get the desired speed; I then coast usually not in neutral, unless it's a really long way down. On the up hill I add throttle keeping my target RPM and not caring about how far I drop in speed. Whether this is really the best way, I don't know, but it has worked out the best for me. Constant throttle may keep traffic happier but that's why they have other lanes, so I can get much better mileage.
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