Friday, June 13, 2008

The Cost of Driving

The Wall Street Journal has an interesting article about the rising savings from owning a hybrid vehicle with gas prices continuing to skyrocket. This article got me thinking about how much I would have saved had I purchased a Prius instead of my current car.

I did a few calculations under the assumption that I get 28 mpg in my current vehicle and that the cost of gas is $4.70/gal. I then compared it to how much I would be getting in a Prius assuming 48 mpg and $4.45/gal. Here's how much a round trip to these places from home would cost me (my car/Prius):

Work - ( $6.71 / $3.71)
Oakland Coliseum - ( $14.10 / $7.79 )
Union Square - ( $16.11 / $8.90 )
Family in Irvine - ( $126.56 / $69.90 )

I'm on pace to drive about 22,000 miles this year. If I were in a Prius I'd be saving about $ 1,652 per year on gas, or almost $ 5000 in 3 years. And in 10 years I'd be saving ... (plus 3... carry the 7... divide by 0...) at least twelve trillion dollars! Boy, that twelve trillion could really go a long way for a down payment on that townhouse in Alum Rock.

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