Do You Really Know How Much You Spend For Gas Per Year?

2007-06-26 Word Count: 489 Category: Trucks-SUVS

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 easy to figure out and only takes a few minutes. That being the case one would think that most drivers would take the time to work the calculations and determine their annual expense. But most don't. If they did they might realize how important it is to their financial health to do something about it.

We see it almost every day, the increases to the price of gas. $3.00 per gallon, $3.19 per gallon, $3.39 per gallon even $3.49 and $3.59 per gallon are prices that we have become familiar with this year. Not too long ago $3.00 per gallon seemed high. Now $3.00 seems almost a bargain.

The American Automobile Association uses 15,000 miles as an average amount of miles traveled per vehicle when they calculate costs. If you on average travel 15,000 miles a year in a vehicle that runs at about 20 miles to the gallon, you will purchase around 750 gallons of gasoline per year. If the price is $3.00 per gallon that equals $2250.00 per year.

If you are part of a two vehicle household and both vehicles average 15,000 miles per year you will use 1500 gallons of fuel annually. 1500 gallons at a pump price of $3.00 per gallon is an expense of $4500.00 per year.

If the price of gas is $3.49 per gallon of course the results are significantly higher. If you are a one car household utilizing 15,000 miles per year you will have an expense of over $2600.00 annually. If you are a two car family your yearly costs will be over $5200.00 annually. That equates to $437.00 monthly. You are likely spending more for fuel than you spend on a car payment.

Every time the price of fuel goes up at the pump by 10 cents, the yearly increase for your two car household is $150.00. When the price of fuel jumps 20 cents in a single day, understand that it will increase the cost to you by about $300.00 per year.

When you think about the annual cost of your gas it is very sobering. When you think about spending $5200.00 per year, you might want to serious look at ways to reduce that cost. When you realize that the 20 cent increase today will cost you $300.00 this year you might decide now is the time to do something about it.

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Scott Siegel is the author of a 143 page manual of industry insider secrets on saving gas and dollars at the pump (beatthegaspump.com). Visit us to discover how you can get better gas mileage. Find out how to increase gas mileage. Feel free to grab a unique version of this article from the Unique Articles Submission Service