Do you know how much the rising cost of gas is taking out of your pocket? Think of it this way. Every penny the price of gas goes up, it takes $6 out of your pocket for each vehicle that is used regularly in your family. That assumes you drive an average of 15,000 miles per year. If you have 2 vehicles, a 10 cent increase in the price of gas will cost your family $120 per year. From May of 2007 until May of 2008, the average cost of gas has risen from $3.14 to $3.81 per gallon. That cost each of us an average of $402 per vehicle.
But wait! It doesn't stop there. You have to consider the impact on the trucking industry. Virtually everything we buy as consumers has transportation costs factored into their price. The American Trucking Association claims that every penny that diesel fuel goes up costs the industry $391 million per year. The price of diesel has risen 49 cents per gallon over the past year. That amounts to $19,159,000,000. I am guessing that the trucking industry has not absorbed that absurd amount of incremental cost.
Any thoughts on where that cost is being paid for? You guessed it. You and I are paying more for almost everything we buy. It may be only a penny here and a nickel there, but I can assure you there are few products that have escaped the clutches of the fuel choke hold. We the people, certainly have not escaped that choke hold. Where is superman when you need him?
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May 17, 2008
Where is superman when you need him?
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4 comments:
Hi! A few more obscenities: The price of diesel fuel has shot past gas prices and that is a huge betrayal. Diesel needs WAY less refining than gas. One area where gas price ripoffs have really hit the wallet is in construction costs. Anyone planning on building a shiny new home, like I am, had better hang on to their hats. That has serious repercussions throughout some of our biggest industries. I sure hope that Americans can "spend their way out" of this recession.
Movie recommendation on all of these topics: "The End of Suburbia" - a MUST-SEE documentary. Grab it on Netflix and trip out, hard. And it's all true, too.
The trucking industry is really taking a hard hit with the rising fuel costs. I'm a mechanic for a major trucking carrier, and I know quite a few other trucking companies (ours included) have cut back the max. speed of their trucks to save fuel. The drivers complain because their loads are sometimes late, but better to be late than to have to go bankrupt because of excessive fuel costs. We as consumers definitely make up the difference at the pump as well as in the grocery store!
I'm a retired long haul trucker who is thanking his lucky stars that I got out before this hit..I have friends who are going under financially..
With the price of gas going up we are going too fell it hit are pockets hard. so be frugal where you can.
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