We don’t need to tell you (though we do, everyday) that gas is crazy expensive right now. Even if you’re a hybrid owner, those extra bucks per gallon are really adding up.
On average, fuel prices have shot up $1.41 over a year ago. The money-minded publication MarketWatch complied the numbers and figured out just how badly gas price spikes are treating the average American based on the type of car they own and the amount of greenbacks a gallon of fuel goes for. They turned to Kelly Blue Book’s 5-Year Cost To Own data to come up with some rough numbers:
Looking at operating costs by vehicle segment and a car owner who drives 15,000 miles a year, the research shows the average fuel costs per month, based on average fuel costs over the past five years (roughly $3 a gallon). Then, the Kelley Blue Book data analysts calculated the additional cost for every $1 increase in a gallon of gas.
There’s a handy chart MarketWatch put together that lists every vehicle type and just how much that car costs its owners, based on average vehicle usage. It probably won’t blow your minds to learn that less efficient vehicles are much more expensive. But the chart does give you a handle on just how much you’re being screwed every time the price ticks up, and that’s kinda useful and not at all depressing, right? It’s a useful tool for budget planning, as much as you can plan for such things in the Year Of Our Inflation 2022.
Your average hybrid owner is out about an extra $38 bucks a month over this time last year. Those with full-sized trucks are spending an extra $100 with the same price rise. When averaged out from the lightest of subcompact to the most luxury of full-size SUVs, a $1.50-ish increase in fuel is costing Americans an extra $83 a month over 2021 prices. If you’re making minimum wage, that equals 11.5 extra hours of labor just to fuel your vehicle.
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Yup, not depressing in the slightest.