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Posts Tagged ‘fuel costs’

After Steady December Climb, Gasoline Prices Retreat in January

U.S. production levels continuing to increase.

by on Jan.31, 2017

Gas prices fell for the first part of January as U.S. production levels increased.

After climbing during the last month of 2016, the price of gasoline has retreated for the past three weeks, dropping to $2.27 per gallon, which is down four cents per gallon from a week earlier, according to the survey by AAA.

AAA said the growth in the number of U.S. oil rigs and the increased drilling it implies are raising expectations for a climb in domestic oil production.

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Meanwhile, increased U.S. crude oil production and reduced demand has exerted pressure on the national average price at the pump, which has fallen for 21 consecutive days, AAA said. (more…)

Driving Costs Plunge to Six-Year Low

Low fuel costs offset rises in every other category.

by on Apr.07, 2016

Lower fuel prices are providing a bonanza for American motorists, according to the AAA study.

You may be paying more for food and housing, but that trip to work is likely costing you less these days. In fact, driving costs have fallen to their lowest level in six years, according to an annual study by AAA.

The travel and road service firm estimates the average driver will spend $8,858 to own and operate the typical vehicle this year, a figure that works out to around 57 cents per mile. Credit goes to one particular factor, said AAA managing director John Nielsen.

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“Thanks to lower gas prices, American drivers can expect to save hundreds of dollars in fuel costs in 2016,” said Nielsen. “Fortunately, this annual savings more than offsets the moderate increases in maintenance, insurance, finance charges and other costs associated with owning and operating a vehicle.”


Idaho Rates Best for Drivers; Louisiana the Worst

Want to drive on the cheap? Consider moving to someplace with wide-open spaces.

by on Aug.31, 2015

Tired of spending so much to keep your car running, gassed up and insured? If you’re looking to cut costs, you might consider moving to a place with wide-open spaces, according to a new study that ranks the best and worst states for drivers.

The new study also considers other factors like commute times, vehicle thefts and fatal crashes. All things considered, Idaho tops the chart according to research by financial website, while Louisiana lands at the bottom of the list. With only a few exceptions, drivers will find life easier – and less expensive — in rural regions of the country, the study reveals.

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“Population density has a big effect on these rankings,” explained Chris Kahn,’s research and statistics analyst.  “The best states for drivers have lots of wide-open spaces, whereas the worst states tend to be filled with people and cars – a bad combination for drivers’ wallets.”

The top five states in the study are, in order:


Steady Rise in Gas Prices May be Nearing an End

Drivers continue to pay more, but crude prices leveling.

by on May.12, 2015

Gas prices may level off in the near future due to an expected halt to rising crude oil prices.

The price of gasoline increased again this week, rising to $2.66 per gallon, which is the highest average price of the year, according to AAA. But the increases might be coming to an end as the rally that has lifted the price of crude oil runs out of steam.

Drivers are paying about four cents more per gallon than one week ago and 27 cents more per gallon than one month ago. However, relatively low crude costs continue to translate to significant savings at the pump for consumers. The national average is about a dollar less than a year ago and is at the cheapest level for this date since 2009, AAA said.

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Month-over-month, the price has moved higher in every state and Washington, D.C. by a dime or more per gallon. Pump prices are up by a quarter or more in 22 states, with the largest monthly increases taking place in the western United States. Consumers in California at 61 cents per gallon, Nevada at 44 cents per gallon, Utah at 39 cents per gallon and Arizona at 39 cents have seen the largest increases over this period, due largely to the refinery issues in the region. (more…)

Drivers Get Break on Cost of Ownership

Lower fuel and insurance costs give U.S. car owners a break.

by on May.05, 2015

AAA says vehicle ownership costs are going to fall this year by 2% due in part to low fuel prices.

If you’ve gotten used to the idea that you’ll always be paying more – for housing, food, clothing – you may be in for a pleasant surprise when it comes to driving, as you can expect to pay about 2% less to operate your car this year.

Credit lower fuel costs and cut-rate car loans, according to the AAA’s annual “Your Driving Costs” study. Unfortunately, the survey also found that some other automotive expenses are expected to rise this year, notably including auto insurance, maintenance and tires. And if you’re planning to buy this year, AAA cautions that you’ll likely be getting less for that trade-in, which translates into higher depreciation costs.

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Nontheless, “Car owners can look forward to saving approximately $178 this year,” explained John Nielsen, AAA’s managing director of Automotive Engineering and Repair, and the savings will be even greater for those driving large, fuel-hungry vehicles such as minivans, pickups and SUVs, the AAA reported. (more…)

Motorists Watch Fuel Costs Steadily Climb Upwards

Rising crude prices, refinery issues behind increases.

by on May.05, 2015

Gas prices have risen consistently for nearly three weeks in a row, according to AAA.

No, it’s not your imagination: prices at the pump have been on the rise for a while now. The average price of gasoline has moved higher for 19 consecutive days, adding some 23 cents per gallon due to higher crude oil costs and a number of refinery issues, according to AAA.

AAA pegged the average price across the country at  $2.62 per gallon, which represents the most expensive average price of the year. Motorists are paying eight cents more per gallon than one week ago and 22 cents more than one month ago to refuel their vehicles.

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Although the national average is currently moving higher, relatively lower crude prices continue to provide consumers with significant year-over-year-savings and today’s price is $1.06 per gallon less than a year ago, AAA said. (more…)

The 12 Cheapest – & Most Expensive – States to Own a Car

It’ll cost plenty to drive in Wyoming, but Iowa is a bargain.

by on Aug.11, 2014

Repair costs vary widely by state.

They’re only hours apart – separated by a single state in-between, but when it comes to the cost of owning and operating a car, Wyoming and Iowa might as well be on different planets.

When you factor in such annual costs as gasoline, insurance and repairs, the typical Wyoming driver will spend about $2,705. In Iowa, the figure is a far more reasonable $1.942 annually, according to a new study by the financial services website

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The results of the new study might come as a surprise, particularly with relatively sparse Wyoming landing at the top of the list – above more urban states such as New York, New Jersey and California. In fact, the Golden State wound up closer to the middle of the list of 50 states and Washington, D.C. At an annual cost of $2,237, California motorists are laying out just slightly more than the $2,223 national average, according to the Bankrate study.


Owners Pay Highest Fuel Costs Per Mile for GMC Models

Honda products cheapest to keep fueled, according to new study.

by on Aug.01, 2013

Running down the road in this Chevrolet Suburban will cost you about 30 cents a mile for fuel alone, more than four times the cost of operating a Toyota Prius.

Fuel prices have been riding the proverbial roller-coaster in recent months and that has more American motorists than ever focused on finding the most mileage-minded vehicles available that can fit their needs.

While it’s hard to find a manufacturer that hasn’t been pushing for improved fuel economy, there’s still a big gap between brands, according to a new study that finds the typical GMC product has, on average, the most costly products to operate in terms of fuel costs per mile. Parent General Motors, in fact, produces six of the ten most costly vehicles, according to a new study by tracking service

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At the other extreme, Honda was the cheapest brand, at a cost of just 12.8 cents per mile compared to 21.2 cents for GMC.

Potential buyers should take caution before steering clear of any brand, however, and instead do an apples-to-apples comparison of similar products, cautioned GasBuddy’s senior analyst Patrick DeHaan, who noted, the brand-based costs “depend upon the manufacturer’s line-up.


What’s Your Automotive Misery Index?

Cost of fuel, insurance can vary widely by state.

by on Sep.13, 2012

Gas and insurance prices vary widely, state by state.

It’s easy to feel miserable when it comes time to fill the tank, fuel prices again on a fast rise across much of the country.  And automotive insurance costs have been going up quickly, as well.

But how much you pay can vary widely depending upon where you live.  A gallon of regular unleaded that will cost you $3.16 in South Carolina this week goes for a dollar more in Illinois, according to the latest tracking information.

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Combine gas and insurance and drivers in some states can expect to pay as much as $2,000 more than their motoring cohorts in other parts of the country, according to the new Automotive Misery Index.


White House Locks Down 54.5 MPG Fuel Economy Standard

“Single most important step” to reduce dependence on foreign oil, says President.

by on Aug.28, 2012

The new mileage standards appear to have solid public support -- especially as gas prices resume their upwards surge.

Bouncing back from an unexpected delay, the Obama Administration today formalized a more than 50% increase in federal automotive fuel economy standards.

Even with automakers struggling to meet the 2016 Corporate Average Fuel Economy, or CAFE, target of 35.5 miles per gallon, the industry will now face a 54.5 mpg goal for 2025.  That figure is the result of extensive debate between industry, environmentalists and government regulators.

But there had been questions raised, earlier this month, when the White House unexpectedly delayed the release of the official rules.  The 2025 CAFE proposal, like much of Pres. Barack Obama’s energy policy, had come under fire from a Republican party set to formalize Mitt Romney as its presidential nominee this week.

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“These fuel standards represent the single most important step we’ve ever taken to reduce our dependence on foreign oil,” the President declared in a statement accompany the release of the new mileage regulations.