Gas Prices Down, Road Trips Up

According to the Federal Highway Administration, the average American drives 13,476 miles per year.  According to AutoNews.com, the average miles per gallon of a ‘light vehicle’ is around 25.5. 

This would a great time for a chalkboard but let’s stick to the simplicity of text.  Using those figures, that’s 528.5 gallons of gas per year.  Let’s say that your tank holds 14 gallons.  That’s at least 38 visits to the gas station and most likely more if you’re the typical driver that fills up well before the low-fuel light appears.  Maybe you’re filling up about 10 gallons each visit.  That’s makes for about 53 visits on average.  When you save $1.50 per gallon, that’s $15.00 in savings each visit.  [Maybe that covers 5 $3 iced coffees over your week.]  Over the year, that’s $793 in your pocket.  Big savings…or maybe your next set of track tires.

According to Time.com, 2008 had at least one reason for the big gas price plummet. “In late June and early July, speculators in oil futures battled one another, suspecting that a top was near.  In the ensuing weeks, oil would come crashing down to earth as traders everywhere — including hedge funds, banks and pension funds — unwound their positions.”  The U.S. financial crisis and fluctuating world currency values were also noted. 

So why are we here in 2016?  The U.S. is producing much more oil than in recent years so much less oil than usual has to come from overseas.  Also vehicles are becoming more energy efficient and a few overseas economies are weaker than usual.  No, I’m no economy guru.  I’ll thank the NY Times article. 

All of the supply and demand and world economy stuff really doesn’t matter to the Average Joe and Average Mary.  All we see are the numbers on the gas station sign and at the pump and fill ‘er up.  Maybe we did cut back on road trips from 2011 to 2013 due to wildly-high gas prices but now its our time to hit the road...or tuck away the savings.  The trend for much of 2016 looks to be affordable gas.  Rejoice!  Start planning your 2016 road trips or book your flight to your choice of far-away automotive vacation locales...and work over that rental.                                                                                                       

Hunt Valley Horsepower will be taking to the road on a few occasions in 2016 and you’re welcome to take to the road with us.  To start, check page 3 for the Chesapeake Concours on Sunday, April 24.  Spread the word.  See you down the road!