Consumers On Track To Save $80 Billion Due To Lower Gas Prices

Derek Kreindler
by Derek Kreindler
consumers on track to save 80 billion due to lower gas prices

The auto world may be on an extended vacation thanks to the timing of New Year’s day, but the energy markets are still moving. Matt Smith of the Energy Burrito blog (and energy firm Schneider Electric) discusses the impact of lower gasoline prices for the American consumer. According to Smith, the savings amount to $378 million per day, or $80 billion annually.

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  • Ceipower Ceipower on Jan 03, 2015

    So much bickering going on here , I thought I was at the FOX NEWS website.

  • Jeff S Jeff S on Jan 04, 2015

    You are better off buying what you want and need and keeping it rather than just buying a vehicle based on the changing price of oil. If you want to stay out of debt and have any savings for retirement then keep what you have. Unless you drive much more than the average driver it takes years to pay for the additional savings in fuel versus the cost of a newer vehicle. If I were driving more than average then a Prius might be a good vehicle to drive, but just to buy a Prius to save on fuel for my less than average driving is a waste of money. The same holds true for buying a big fuel thirsty vehicle, which if I am not towing or hauling a lot of people or things is a waste of money regardless of how cheap fuel gets. Cheap fuel will not last as nothing lasts forever. If you buy what you need and want you are more likely to keep it for a while and you are more likely to take care of it if you like it.

  • -Nate -Nate on Jan 05, 2015

    "Michael500, You may be here by accident – this is a website about cars. The Truth About Bigots is one aisle over, on the right. Far right." . The interesting thing is : I've been spinning wrenches for almost 60 years now and pretty much every Shop I've ever worked in, from Gas Stations , to used Car Lots , Junk Yards , Indie Shops , Dealers , and Municipal Garages , all are mostly full of neo cons . I hired & trained a Woman @ my old VW Shop in the 1970's , this went over really well with the College Students and Lesbians I had for Customers , not so much everyone else . In The Mayor's Garage , they drummed the two Lesbian Mechanics we hired out fairly quickly ~ one was possibly competent but she made the usual Lesbian mistake of being incredibly hostile to everyone , all the time and so never really got the chance to make the cut . the other one seemed O.K. to me but still suffered terrible harassment daily and gave up and quit . All the Black Mechanics I have worked with , were extremely competent but had few friends amongst the White guys who never really bothered to ask ' hey , welcome , how you doin' ? how's your kids ? ' and the other daily topics . I have no problem being staunchly Conservative but I'm no whacko . O.K. , I'm a goofy guy but I'm also firmly rooted in reality unlike the average neo con who supports lying , thieving cowards like clive bundy etc. Until you live in The Ghetto and experience the daily racism that my teenaged Foster boys get , you really have no idea . Just taking them out for pizza last week was an exercise in patience for me . -Nate

    • See 1 previous
    • -Nate -Nate on Jan 05, 2015

      @hybridkiller Who cared ? . I didn't think so but Howie certainly did . She was too lazy to make a good Mechanic in the end , that was too bad . -Nate

  • -Nate -Nate on Jan 05, 2015

    Redav Said : " You can’t really call them Mexicans, though. During the time the territory of CA was under Mexican rule, their population there was small." . . LOL ~ so true ! . If I say ' Hispanics , the Mexicans will rise up in anger , if I say ' Hispanics ' someone else will correct me... . I bet few here realize how many Centro- Americans live in every single corner of the U.S. of A. ! Guatemalans in Maine , there's a whole lot of them . Salvadorians in Denver , on and on... -Nate