Gas Prices and Driving Habits: How Much Does the Average American Spend on Gas?
Introduction:
Ever wondered how much the average American driver spends on gas throughout their driving career? Go Banking Rates (GBR) decided to answer this question by analyzing the financial relationship between states and projecting the current outlay of each state’s drivers. The results were surprising, with Wyoming residents leading the table in terms of lifetime gas costs. Let’s delve into the methodology used and explore the driving habits and gas prices that contribute to these figures.
Methodology: Crunching the Numbers
GBR collected data from government sources and the American Automobile Association (AAA) to calculate the average American’s 61-year driving career. They multiplied this number by the average yearly driven miles per state, taking into account the typical gas tank size and fuel efficiency of the average vehicle. By dividing the annual mileage by the distance traveled on a full tank and considering the fixed tank size, GBR determined the number of times a driver would need to fill up their tank every year. After multiplying this by the average price of gas in each state, the lifetime gas cost was calculated by multiplying the annual cost by 61.
Driving Habits: Varying Mileage and Tank Sizes
While GBR’s methodology provides a general estimate, it’s important to note that mileage and tank sizes can vary significantly among different vehicles. Referring to the list of the 25 best-selling vehicles with fuel tanks, which excludes electric vehicles like Tesla, we find that the Toyota Corolla Hybrid has the smallest tank size at 11.3 gallons, whereas a standard model has a 13.2-gallon tank. Additionally, last year’s DOE report indicated an average fuel economy of 26.4 miles per gallon for all new light-duty vehicles.
Gas Prices: A Changing Landscape
It’s worth mentioning that trying to determine an average gas price over 61 years is challenging due to fluctuating prices. For instance, the average nationwide price of gas in 1963 was only 32 cents per gallon. Adjusted for inflation, this amounts to $3.29 in today’s money. Clearly, gas prices have seen a significant increase over the years, affecting the overall lifetime cost for drivers.
Wyoming: The State with Hefty Gas Costs
Wyoming residents emerged as the state with the highest lifetime gas costs, amounting to a staggering $201,698.22. This figure surpasses California, the second-highest state, by a substantial $34,000. Wyoming’s driving habits play a crucial role in this ranking. Based on government data, residents of Wyoming have consistently driven extensive distances each year. In 2011, the average vehicle miles traveled per capita in Wyoming was 16,272, surpassing Alaska by almost 3,000 miles. By 2019, this number had soared to over 24,000 miles per year. Such high mileage contributes to the state’s leading position in terms of lifetime gas costs.
Conclusion:
Understanding how much the average American spends on gas requires considering various factors such as driving habits and gas prices. While GBR’s methodology provides a general overview, it is essential to acknowledge the different mileage and tank sizes among vehicles. Moreover, fluctuating gas prices over the years significantly impact the lifetime cost for drivers. Wyoming stands out as the state with the highest lifetime gas costs, owing to its residents’ extensive driving habits. By exploring these insights, we can better comprehend the financial aspects of being an American driver and make informed decisions regarding our transportation choices.