gas prices

Gas Prices Explained

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The movement of gasoline prices over time is a tricky topic for many to understand. While there are those who would pin the causes on any number of usual suspects, one pundit will surely disagree with the next as to the root of the problem.

Animator Omid Malekan takes a simple approach to the subject, using two bears and a straightforward chart that shows – with little doubt – a clear connection between the price of gas in America and stock prices. No stranger to economics, Omid’s popular videos tackle a range of topics, including the European Economic Crisis, Inflation, the Bank Bailouts, and the Federal Reserve. In short, it’s all about the markets and money supply.

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Does a New High Gas Mileage Vehicle Make Sense?

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Are you thinking about replacing your gas guzzler with a fuel-efficient vehicle that gets more miles per gallon (MPG)? Not sure how much money you can expect to save every week, month, or year? MPGomatic to the rescue!

Cost justifying the purchase of a high gas mileage vehicle starts with some basic numbers. Thankfully, it isn’t a complicated process. You’ll begin by comparing the real-world gas mileage of your existing vehicle with the official government estimates for the new vehicle(s) that you have in mind.
2012 Ford C-Max Hybrid - 3/4 front view

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Historical Price of Gasoline in America

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So how much does a gallon of unleaded regular gasoline cost today, compared to previous years? The United States Energy Information Administration (EIA) publishes a table of prices that breaks down the average cost of gasoline along with the percentage of refining, distribution and marketing, taxes, and crude oil. We’ve taken the table and turned it into two charts.

The first chart simply shows the average cost of a gallon of regular unleaded gasoline over the years, starting in January 2000 through April 2012.

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Diesel vs. Gasoline: Is Diesel Worth the Added Cost?

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Folks are often distracted by the cost-differential between regular unleaded gasoline and diesel fuel. I can’t count the number of times I’ve heard variations of the same question, “how can you justify buying a diesel-powered car with the 30 cent difference between diesel and gasoline?”

Diesel engines can be as much as 30% more fuel efficient than the equivalent gasoline engine. The cost-differential between diesel fuel and regular unleaded varies depending on factors that include seasonal fluctuations, geographic location, and market demand.

So how do diesel cars save money over their gasoline engine counterparts, when diesel fuel is more expensive than regular unleaded gasoline?

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How to Pay Less Per Gallon of Gas

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If you’re keen on slashing the amount of money you spend on gasoline every week, a three-pronged approach will deliver optimum results. You’ll want to 1) maximize your efficiency behind the wheel, 2) minimize the number of miles you travel, and 3) pay the least amount (net) per gallon.

The bulk of our time here at MPGomatic is spent focusing on driving efficiency. For the sake of testing consistency, we try to stick with the same gas station, whenever possible. As such, shopping for price isn’t part of our standard modus operandi. So to get the word on getting the best prices, we called in a pro, Andrew Schrage, the co-owner of Money Crashers Personal Finance to learn the tactics he uses to get the best prices.

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