We don’t have to tell you (even though we do, everyday) that gas is insanely expensive right now. Even if you’re a hybrid owner, those extra dollars per gallon are really adding up.
On average, fuel prices have increased by $1.41 over a year ago. Publications geared towards money MarketWatch Sticked to the numbers and figured out how much of an effect the price of gas has on the average American based on the type of car they own and the number of greenbacks per gallon of fuel. They switched to Kelly Blue Book’s Cost of ownership for 5 years data to give some raw numbers:
Looking at operating costs by vehicle segment and car owners driving 15,000 miles a year, the study found average fuel costs per month, based on average fuel costs over the past 5 years (about 3 dollars a gallon). Then, Kelley Blue Book data analysts calculated the additional cost for each $1 increment for a gallon of gas.
There’s a helpful chart put together by MarketWatch that lists every vehicle and shows how much it’s due to its owner, based on average vehicle usage. It probably won’t make you think when you learn that Less efficient means are much more expensive. But the chart gives you a handle on how much you are being affected every time the price goes up, and that’s helpful and not annoying, isn’t it? It’s a useful tool for budget planning, you can plan for such in our Inflation Year 2022.
Your average hybrid owner makes about $38 more a month than this time last year. Those with full-size vans are spending an extra $100 with a similar price increase. When averaged from the lightest of small cars to the most luxurious of large SUVs, the $1.50 fuel increase is costing Americans $83 more a month than it would in 2021. If you’re working minimum wage, that equates to 11.5 hours of overtime just to fuel your car.
That’s right, not sad at all.
