Green Cars Push Gas Prices Down (About Time ...)
Gasoline prices are falling in Japan, not only due to lower crude oil prices, “but also because the widespread popularity of fuel-efficient vehicles has lowered demand for gasoline,” The Nikkei [sub].
The Tokyo paper predicts …
“a shakeout in the gas station industry, as next-generation green cars, including electric and fuel-cell vehicles, become more popular. Next-generation cars will account for 56% of all automobiles in Japan in fiscal 2030. Gasoline consumption that year is expected to be about 60% lower than the fiscal 2010 level.”
A gallon of that ultra low-priced gasoline retails for $6.64 a gallon, due to a strong yen and high taxes.