10 Cent Increase In Gas Costs You From $150 To $225 Per Year!
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As the price of gas has steadily increased so has your annual gas expenditure. It has gotten to the point that it has become a major part of your family expense. But do you really know how much you are spending per year on gas? Most drivers know what it costs for a fill up but not many can confidently state how much they spend per year.
It is fairly simple to figure out and only takes a few minutes to calculate it. Even so, most drivers don’t take the time to work the calculations and determine their annual expense. If they did they might look at economizing their gas usage a little more seriously.
There seems to be no end in sight to the daily increases to the price of gas. $3.00 per gallon, $3.29 per gallon, $3.49 per gallon are prices that we have seen this year. A while back $3.00 per gallon seemed really high. Now $3.00 seems like a good price!
The AAA uses 15,000 miles as an average amount of miles traveled per vehicle. If you travel approximately 15,000 miles each year in a car that gets about 20 miles to the gallon, you will buy approximately 750 gallons of gas per year. At $3.00 per gallon that adds up to $2250.00 per year as the cost for fuel. At $4.00 per gallon that adds up to $3,000.00 per year.
If you are a two car family averaging 15,000 miles per car you will use 1500 gallons of gas per year. 1500 gallons at $3.00 per gallon equals $4500.00 per year.
At $3.49 per gallon the numbers are considerably higher. If you have one car at 15,000 miles per year you will spend over $2600.00 per year. A two car family would spend over $5200.00 per year. That equates to $437.00 per month.
As prices climb to $4.00 per gallon the cost is almost unimaginable. 1500 gallons at $4.00 per gallon is $6,000.00 per year. $6,000.00 per year equates to a monthly payment of $500.00 You could easily be spending more for gas than your monthly car payments.
Every time that the price of gas goes up at the fuel pump by 10 cents the total increase for your two car family will be $150.00 per year. When you see the price jump 20 cents in one day, think annually. Realize that the 20 cent increase will cost you $300.00.
The average number of vehicles in the United States is 3 vehicles for every 4 people. Based on that statistic, many 4 person households will have 3 cars. If you look at the increase multiplied by three cars the numbers are staggering. A 10 cent increase for three cars all traveling the average of 15,000 miles per year would be $225.00 per year. A 20 cent increase would set your family back $450.00 per year.
That also means that if you are a 3 car family the annual amount spent by your family at $4.00 per gallon will be $9,000.00!
When you think about the annual cost of your fuel it is very sobering. When you think about spending $3,000, $6,000 or even $9,000 per year, you might want to seriously look at ways to reduce that cost. When you realize that the 20 cent increase today will cost you up to $450.00 this year you might decide now is the time to do something about it.
About the Author
Scott Siegel will show you how to cope with high gas prices. He is the author of a 143 page manual of industry insider information on saving gas and money at the pump. Visit us to learn how you can improve gas mileage, increase fuel economy, and save money. Go to: http://www.beatthegaspump.com
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