The sting of gas prices above $4 a gallon is causing some Americans to rethink the way they drive and how aggressively they burn gasoline while driving.
For some drivers, the double-edged sword of rising inflation after the worst days of the COVID-19 pandemic and Russia’s war in Ukraine, which sent gasoline prices skyrocketing, has pushed them to look for an electric car.
Others, however, may simply fall back on how to get the most out of their gas engine.
Limited but improving supplies of both gas-powered and electric vehicles are pushing prices higher. Energy giant Russia’s continued encroachment into Ukraine has added volatility to already soaring energy markets, including record RB00 gasoline prices, +4.37%, and 14-year high BRN00 oil prices, -0.49%.
The day Russian President Vladimir Putin announced the unprovoked attack on Ukraine on Feb. 24, a gallon of gasoline cost $3.54, according to the national AAA average, excluding local sales taxes and other fees. As of March 10, AAA reported a national average of $4.31.
To read: Inflation was red-hot and drivers were reaching their breaking point — and that was before Russia’s invasion of Ukraine sent gas prices skyrocketing.
Are you going to this electric car now?
Gas market volatility could see some consumers poised to ditch internal combustion engines for good and be among the first to be part of the nation’s journey to zero greenhouse gas emissions by 2050.
Internet searches for electric vehicles have increased over the past two weeks, but many consumers may just be window shopping. Electric vehicles are more expensive on the show floor than gasoline-powered vehicles, and insurance and repair costs for electric vehicles are higher, at least until that market expands.
“The Department of Energy reports that, on average, an electric vehicle costs about half as much to operate as a comparable gasoline vehicle over the lifetime of those vehicles.”
Market watcher LMC Automotive expects EVs to account for 34.2% of U.S. new vehicle sales by 2030, with 30.1% for all-electric vehicles and 4.1% for plug-in gas and electric hybrids. %. Electric vehicle sales, including plug-in hybrids, accounted for only about 4% of total U.S. vehicle sales in 2021. However, this is a doubling compared to last year.
To read: Chasing Tesla: Here are every major automaker’s current EV plans
Compared to current energy bills, charging an electric car at home can mean a dramatic increase, but in most cases the cost is significantly lower than filling up a gas-powered car, Cars.com’s automotive experts say. The Department of Energy says that, on average, the cost of driving an electric vehicle is about half that of a comparable gasoline vehicle over the lifetime of those vehicles.
Growth in EV purchases may still depend on whether Congress takes action to improve purchase incentives.
Back to sedan or two-door?
Historically, the surge in gas prices, like during the Gulf Wars, convinced many car dealerships to push their cars with more efficiency and smaller gas tanks to the front, and larger SUVs to the back.
MarketWatch asked Cars.com executive editor and lead electric vehicle analyst Joe Wiesenfelder if this mindset continues.
“People still think that cars are much more efficient than SUVs, but the difference is not as big as it was when all SUVs were based on truck platforms and were bigger,” he said.
“Many of today’s most popular SUVs aren’t much bigger than cars. Compacts and subcompacts may be taller, have sunroofs and all-wheel drive, but we’ve come a long way from the original Ford F, -1.78% Explorer, which sold millions of copies,” Wiesenfelder added.
This observation comes with a big caveat:
“On the other hand, when gasoline is this expensive, a 1 or 2 mpg difference starts to look bigger, perhaps disproportionately, and I expect consumers to go back to what they know, which is smaller vehicles and cars if they are available,” he added.
Undoubtedly, the automotive industry is becoming more efficient when it comes to miles per gallon (MPG), fueled by regulation and changing consumer expectations.
That’s why Cars.com has published listings that appeal to today’s drivers. Those lifts include offerings from Tesla TSLA, -5.12%, General Motors GM, -0.81%, and Ford in electric vehicles. And more economical traditional options from Hyundai 005380, Honda 7267, -2.81%, Toyota 7203, -4.37%, Kia 000270, -0.99%, etc.
Here are some of the most economical gas-powered vehicles:
1. Mitsubishi Mirage: 36/43/39 mpg (city and highway)
2. Hyundai Elantra: 33/43/37 mpg
3. Honda Civic: 33/42/36 mpg
4. Hyundai Accent, Kia Rio: 33/41/36 mpg (tie)
5. Toyota Corolla Hatchback: 32/41/35 mpg
Most economical petrol-electric hybrid
1. Hyundai Ioniq: 58/60/59 mpg
2. Toyota Prius: 58/53/56 mpg
3. Hyundai Elantra Hybrid: 53/56/54 mpg
4. Honda Insight: 55/49/52 mpg
5. Toyota Corolla Hybrid: 53/52/52 mpg
Most economical plug-in hybrid
1. Toyota Prius Prime: 133 mpg equivalent
2. Hyundai Ioniq Plug-in Hybrid: 119 mpg
3. Kia Niro plug-in hybrid: 105 mpg el.
4. Ford Escape Plug-in Hybrid: 105 mpg el.
5. Toyota RAV4 Prime: 94 mpg
Most Efficient Electric Vehicles (energy use per 100 miles)
2022 Tesla Model 3 RWD: 25 kWh
2. 2022 Lucid Air Grand Touring with 19-inch wheels: 26 kWh.
3. 2022 Chevrolet Bolt EV: 28 kWh
4. 2022 Hyundai Kona EV: 28 kWh
5. Tesla Model S 2022: 28 kWh
6. 2022 Tesla Model Y Long Range: 28 kWh
7. 2022 Chevrolet Bolt EUV: 29 kWh
8. 2022 Kia EV6 RWD: 29 kWh
9. 2022 Hyundai Ioniq 5 RWD: 30 kWh
10. Kia Niro 2022 EV: 30 kWh
How to save existing gasoline
Not looking for new wheels at all? Car and driving experts have a simple list of ways to save fuel and money when gas prices are high by simply changing the way you drive.
- Weight is the natural enemy of fuel economytherefore, removing unnecessary items or people from your vehicle can result in real fuel savings.
- Take it easy on the accelerator. The Jackrabbit fires up, and full-throttle acceleration drastically increases fuel consumption. Light acceleration saves more than moderate acceleration.
- Cruise control can help. According to the EPA, aggressive driving, such as speeding, rapid acceleration and braking, reduces fuel consumption by 30% at highway speeds. Using cruise control reduces this behavior and helps the engine and transmission run more efficiently while improving fuel economy.
- Keep your tires inflated. Under-inflated tires can reduce fuel consumption by a full mpg.
- Do not ignore the check engine light. It could be an oxygen sensor malfunction or some other emission control issue that is causing the car to lose a few miles per gallon.
- Roll down the windows. Air conditioning reduces engine power and reduces fuel consumption.
- Aerodynamics matter. Roof racks, bike racks, and ski racks won’t do you any good even if they’re empty. Also, remove aftermarket add-ons such as insect deflectors and window and sunroof deflectors.