Today is a very bad day for petrol prices. It is one of those days when it really is about to happen. At the moment, most petrol prices in the UK are about the same as when the UK ran out of petrol in August 2015. That is a lot of money.
Yes, that’s a lot of money. We’re talking about the equivalent of more than $100 billion a day, which is about the same amount that Greece has to spend on its debt and the same amount that the US is paying on a $16 trillion debt. That translates into $20 billion a day, which is about $3 on a $20.
This is one of those days where it is pretty clear that we are in the midst of a serious price rise, but it is also pretty clear that we are not in any way prepared for this. The reason is that there is actually a lot more supply than there used to be. There are more petrol stations in London than there were 15 years ago, even though London has more cars than there were in 1981.
We can’t drive around in an engine that is half-full, we can only drive around in one that is half-empty, and we can’t drive around in an engine that is not a complete loss.
The problem is that a lot of people are still driving around in completely empty cars. Most of them are not even running at all. In the U.S., the average car is worth between $15,000 and $25,000, and in the UK, it is $9,000. Even if the average car loses $1,000 every year in maintenance costs, that is a lot to pay for gas.
The average fuel consumption for a car is about 2.5 liters per 100 kilometers in the U.S. and about 3.5 liters per 100 kilometers in the UK. So the savings to fuel savings ratio is at least 2.5 to 1. If you average the savings in a car’s life from maintenance to fuel efficiency, then you could save about 2.5 million British pounds every year. That’s a savings of about $750,000.
That is a lot of cash, much better than going to the grocery store and buying milk, coffee, bread, and eggs.
The average fuel consumption of a car is about 30 liters per 100 kilometers in the U.S. and about 20 liters per 100 kilometers in the UK. So the savings to fuel savings ratio is about 2.5 to 1. If you average the savings in a cars life from maintenance to fuel efficiency, then you could save about 2.5 million British pounds every year. Thats a savings of about 750,000.
It’s not like we’re trying to save money in petrol. We’re saving fuel by using our car more efficiently. But the saving of fuel for a small car is about the same as the savings of petrol for a full-size car. Plus, the way the savings is calculated in petrol, the savings would be lower if we’re going around a lot of traffic instead of taking the same route every time we go.
You could save about 2.5 million pounds (4,500,000 in the first year) every year. You could save about 750,000 pounds (6,000,000 in the first year) every year. So to save money, you would need to get the car out of the car lane and put it in gear.
