Recent gas prices effects on us and our family
On my Google homepage, I subscribe to a widget called “Local Gas Prices”. I’ve been monitoring the lowest gas prices in my area for a few weeks now and have noticed a significant change. Obviously we all know prices are going up, but it’s disturbing to see the numbers change daily.
The same gas stations that showed the lowest area price of $2.61 per gallon back on Nov 1st are now showing a low, low price of $2.99 per gallon today Nov. 15th.
That’s 38 cents increase over just 14 days!
Now, we can handle this price difference because I barely drive anymore, and Stacie has a relatively efficient MINI Cooper. However, the MINI takes 91 octane, which is hard to find, so she has to pay anywhere from $3.25-$3.40 per gallon for 83 octane.
Still, though, we can handle it. Overall, I calculated that every $1 gas price hike would cost us an extra $1,300 per year at an average 23mpg with 30,000 miles combined travel with my truck, her MINI and our 4 cylinder Pontiac. We could increase that average to 26mpg if I didn’t drive my truck, and would save about $150 more on gas doing so. However, I like my truck, and we’re not hurting for money. In reality, though, we’ll also be driving less and visiting our families less, so we might end the year with more like 22k-25k miles driven.
But we’re not the ones hurting. It’s our families back in rural PA who are paying MORE than us for gas now. Our families reporting paying about 2-3 cents more per gallon, and for people making a fraction of our income, that’s a big chunk of the monthly income.
For example, my father-in-law travels about 60 miles per day (about 5 days per week, sometimes more) for his job. He’s a handyman and drives a V8 Toyota Tundra (he needs the power for hauling heavy tools and lumber and getting over the mountains to job sites). Let’s say he gets between 16-20mpg. At 260 days per year, that’s 15,600 miles, not counting the driving on other days and the 500 miles he drives. At the current $3.09 per gallon, that’s $2410-3012 per year, just for his driving. Add my MIL’s and they’re probably looking at $3,000-4,500 per year, which is a major chunk of their income (I don’t want to give a % since their income is private).
If gas goes up to $4 per gallon, my in-laws are looking at about $3,800-$5,000 per year. Looks like we’ll be down to one visit per year, unless we pay them to come (which isn’t out of the question).
How have the increases affected your lifestyle and wallet? Have you continued to drive the same or reduced your trips/mileage?
Our driving is alreay down to the minimum. We both take metro to work and only use car on weekends. Even then, I would choose walking to grocery store and library more. But with cold weather coming, that may not be an option now! And we do not visit our family as much.
My wife and I have been carpooling. It’s only 3 miles (each way) out of her way to drop me off and pick me up.
We just got a very fuel efficient Yaris. I have an SUV, but we’re only driving that when we need the space. I’ve actually considered getting rid of the SUV and getting another fuel efficient sedan, but with a kid on the way, we may need the space the SUV affords.
I usually don’t spend much time thinking about gas prices and I’ve never thought to change my driving habits based on current prices.
That being said, I paid $2.89 per gallon on my most recent fill-up. My wife and I both have relatively long commutes, over 25 miles each way, so we spend close to $12 a day for gas at current prices.
It’s unfortunate, but outside of finding new work and working from home more often I can’t do anything about it.
It’s still economical for Mr. Micah to drop me at the metro station since we live close. And pick me up since he’s on campus every weekday around the time when I get in (he just reads until I get there). But I’m trying to figure out when it’ll be better just to use the bus with the $.35 transfer.
Speaking of that–if I take the bus first, and then the metro, do you know if I’d get the transfer applied back to the bus? I know it works in the other direction…
Mrs. Micah, you don’t get a discount if you do bus then metro. It’s something my coworker and I complain about since he used to take the bus to the metro station before moving. For me, it’s faster to walk the mile to the metro station or get a ride from Stacie than wait for the bus to come by. I do ride it in the evenings sometimes though, like last night. It really wasn’t much faster than walking, but I felt like zoning out a bit longer, and the bus was arriving as I walked past the bus stop.
Good to know! So gas prices really won’t affect my getting dropped off until they’re much higher. $1.25 for a short distance (but over a mile, too far for me to walk) doesn’t seem worth it. $.35 for a trip home if Mr. Micah’s not on campus is much more reasonable.
yep.I do 80 miles a day for work and the wife does the same. Gas went from 2.60 to 3.00, some places its 3.10 for regular down here. Mostly i ts 2.99.
Luckily we got rid of the gas guzzler a month ago (traded for a 0% finance super deal) for something that gets 30-35mpg.
Wow. I *wish* gas was as cheap as $2.99/g here.
The cheapest unleaded here is $3.39. My car performs better on premium so I routinely pay $3.60+ and my brother has a diesel and paid $3.89 the other day.
But, to me, time is money. I can spend 15 minutes driving each way to work for over an hour on public transport each way. To me, public transport isn’t cheaper when you factor in time and most people seem to forget that huge component.
That’s true, too, Tracey. The bus I ride doesn’t always come frequently enough for it to be worth it.
On the other hand, getting to work would be 45 minutes on the metro or 30-45 in traffic (crossing DC). For me, the rest I get on the metro, the chance to sew and read on the commute, avoiding the stress of traffic–plus the parking savings–make it worth it for me.
A 15 minute drive compared with an hour on metro–I’d definitely have to reevaluate.
Hmmm. We’ve already got fairly gas-efficient vehicles (Toyota Camry, etc), I take the bus to work each day, and my wife drops me off at the bus stop and picks me up.
There doesn’t seem to be many ways that we can work on saving gas beyond that, honestly.
I’m only in my late 20’s but I still remember when $.96/gallon was considered expensive. Ah the good old high school days.
-Raymond
I had the privilege of driving to Minneapolis (450 miles there and back) last weekend and ended up paying $3.20 a gallon for gasoline. My car gets about 25 MPG, so it’s a lot better than most people, but it sure wasn’t fun to pay.
Gas prices are getting crazy again. I’m in San Diego and the cheapest you can find for regular unleaded is about $3.40. It’s really crazy.
Luckily, I drive a company vehicle and my gas is paid for by the company. This saves me a huge amount of money on gas.
3.14 now mike.
we deserve this gas hike, the country brought it upon itself.
I wonder what gas prices will have to hit before people stop buying these SUV’s and gas guzzling sports cars.
I thinking…at least $10 a gallon. That means a simple fill for my Honda Accord would cost me $130. That’ll shock me into walking more for sure.
-Raymond
Bleh. We Californians are paying $3.35-$3.45 per gallon for regular. Lucky you!
Amazing what happens when the USD begins its sharp decline. Everything priced in USD skyrockets. You know, in Canadian dollar terms, the price of gas and oil are barely up year over year. It’s mainly your USD that is starting to fall for many reasons. 1) massive debts, and US government close to bankruptcy 2)major unfunded laibilities for healthcare 3)wars 4)the U.S. fed is printing massive amounts of money 5) the U.S. fed is LOWERING interest rates (that is dumb if you want to keep a fiat currency value high!) 6)boomers will be retiring 7)idiots with sub-prime mortgages (not all are idiots, many were tricked/duped) 8)the U.S. government no longer publishes the M3 index which shows how many USD are in circulation world-wide 9) the rest of the world is starting to diversify away from USD reserves 10) the days of the petro dollar are numbered… every country on earth has to have USD in order to buy oil and this keeps the value of the USD high… if they all sell thier USD and use Euro’s or a basket of currencies, well it won’t be good.
Those are just a few reasons why the currency may eventually collapse if things don’t change. But most of you may think I’m an odd character that is too extreme and will not do anything or scream at your elected officials to do something.
nabloid, you are right on the money…
the american economy is horrible.
i will sum it up like this, when supermodels don’t want paid in american greenbacks, we have officially become a 3rd world country
Well at my previous job I was barely paid above minimum wage. That did not help me pay for gas and my car insurance. Heck, it only paid for my gas. Thanks to my loving parents I was able to get them to cover my car insurance because I commute to college every day. Considering my job also did not give me a lot of hours, I only had $10 dollars left over for “fun” money. I know I should be buckling down for my future but I’m still single, how am I supposed to take a girl out to dinner when I can’t even pay my bill at a decent restaurant?
@poorcollegekid: You could always buy some groceries and make the girl a meal at her place. It worked for me in college 🙂
@clever dude
Yeah I can see it now. Easy Mac and Taquitos. How romantic 😀