With gas prices rising throughout the country, many Americans are searching for ways or solutions to help conservemoney during an economically difficult time. One-way consumers are finding a way to save on the price in the rising cost of fuel is buy purchasing hybrid or small, efficient vehicles.
Gas prices within the United States have rose nearly 25 percent in the last three months bringing the national average for a gallon of gas to $3.88. According to the Associated Press, that is a 30-cent increase in the first month of April-June quarter. Consumers may be confused by the increase in fuel cost jumping so dramatically within the first quarter of 2011 and may look into the breakdown cost of a gallon of gas. In March 2011, a gallon of gas is broken down to: 12% for taxes, 7% for distribution and marketing, 13% for refining, and 68% for crude oil. Global demand, global investors and Middle East politics determine the cost of crude oil.
With two-thirds of the cost in a gallon of gas determined by investors and those who make a substantial profit from the rising cost of fuel, American’s can only fear how expensive fuel will become in the near future.
The fear of high gas prices has led to a major increase in the sales of small, efficient and hybrid vehicles. According to a CNBC report, there has been a 46 percent increase in hybrid and clean diesel sales in March of 2011 compared to March 2010. This increase was roughly three times higher then the increase in the overall market last month.
Toyota dealerships across the country are seeing an increase in demand and sales for its fuel-efficient Prius hybrid within the first quarter of 2011, according to the Los Angeles Times. But the unfortunate events in Japan have put a production disruption on the hybrids, leaving some showrooms empty of Priuses.
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