An interesting combination of reports, compiled by the New York Times, shows that Americans saved money at the pumps from cheaper gas is mostly going to more gas and more expensive gas.
The average American should have saved roughly $41 from cheaper gas prices, according to a report by JPMorgan. Instead of taking home those savings, most people only took home $22. A separate study by Brown University and University of Chicago researchers indicated that most people were buying more expensive gas when gas prices dipped.
The phenomenon, which is called “mental accounting,” roughly translates to people spending a target amount of money — regardless of price. (Read More…)
Speaking at a conference this week, EPA exec Christopher Grundler said automakers have asked for higher octane fuels for higher compression tolerance and more powerful engines, Automotive News is reporting.
Speaking at the CAR Management Briefing Seminar series, Grundler said the EPA has the authority to regulate fuel, but that the agency would investigate whether it would make sense to offer the higher-grade fuel. Grundler is the agency’s director of the Office of Transportation and Air Quality.
(Note to Grundler: You seem like a smart guy. Why can’t we all have race fuel all the time?)
From Zero Hedge, a look at global gas prices, with New York City as the benchmark. A look at the price of a liter of gas (multiply by 3.8 for the gallon equivalent) gives a better picture of the choices that people make around the world when it comes to buying cars.
Day three dawned with a nearly full battery, the exact level seemed unimportant to me. Perhaps it’s the Range Anxiety patch I ordered online for three easy payments of $9.99, or my new-found confidence in tripping across EV stations. Either way I decided bold action was required. I set the climate control to 68 and headed up the hill.