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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 fairly simple to figure out and only takes a few minutes to calculate it. Even so, most drivers don't take the time to work the calculations and determine their annual expense. If they did they might look at economizing their gas usage a little more seriously. There seems to be no end in sight to the daily increases to the price of gas. $3.00 per gallon, $3.29 per gallon, $3.49 per gallon are prices that we have seen this year. A while back $3.00 per gallon seemed really high. Now $3.00 seems like a good price! The AAA uses 15,000 miles as an average amount of miles traveled per vehicle. If you travel approximately 15,000 miles each year in a car that gets about 20 miles to the gallon, you will buy approximately 750 gallons of gas per year. At $3.00 per gallon that adds up to $2250.00 per year as the cost for gas. If you are a two car family averaging 15,000 miles per car you will use 1500 gallons of gas per year. 1500 gallons at $3.00 per gallon equals $4500.00 per year. Of course if the price of gas is $3.49 per gallon the numbers are much higher. If you are a single car household driving 15,000 miles per year you will have an expense of over $2600.00 annually. If you are a two car household your yearly expense will be over $5200.00 per year. That is equal to $437.00 monthly. You could likely be spending more for gasoline than you spend on a monthly car payment. Every time that the price of gas goes up at the fuel pump by 10 cents the total increase for your two car family will be $150.00 per year. When you see the price jump 20 cents in one day, think annually. Realize that the 20 cent increase will cost you $300.00. Reviewing the yearly cost of your fuel can be depressing. When you consider that you are spending over $5200.00 per year just for gas you cannot help but come to the conclusion that it is time to seriously find ways to lower that cost. When you figure out the 20 cent increase at the pump today is really a cost of $300.00 this year, it provides great motivation to do fix it.
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