Monday, June 23, 2014

Gas Money

Driving home from work one night last week, I heard that gas prices were about to jump up 6 cents. Although I had passed (and checked the prices - still "normal" at 122 cents/litre) the first two stations, not far past home was a third station. I detoured there, filled 30 L, and felt good that I had "saved" $1.80.

Or did I?

It took about 0.3 L to return to my house, or around 0.6 L total for my detour meaning my total savings for beating the price hike was about  $1.06 (Total saved minus 0.6 L x current gas price of $1.229). I suspect trying to beat gas price increases won't have a big overall affect on my gas budget, especially if I have to drive a fair distance out of my way. But, as I was going to get gas that evening anyway, and I was driving across town where the price changes had already been recorded, I"m going to call it a good move.

I've been doing some other calculations as my fuel gauge has broken on my vehicle and I need to check the gas consumption regularly to prevent running on empty. Calculations completed using $1.249/L

Cost to get to work: Appears to be 2 L each direction, or $5.00 per day.
Meaning my cost on gas to drive to work each month (~22 days per month) is $110
Cost of a monthly parking pass is $95 (I was delighted this was so cheap!)
Cost of insurance yearly is about $900, so monthly around $75
Yearly registration $85 plus taxes, estimated monthly $7.50

The cost of just to getting to work (and given the hours of operation from my daycare and the bus schedule, I have to drive) is at least $287.50. This is just shy of 10% of my income!

And it doesn't include personal use:
Cost to visit a family member (8 L), $10
Cost to go to the park (~6.5L), $8.11
Cost to the closest grocery store (~1.5L), $1.87

Or maintenance.
Some current problems are my gas gauge not working, a loose ball joint, the odometer has ceased to light up, only half the windows roll down, the heater motor is totally broken, the AC no longer works. But, knock on wood, it starts every day. That's what I need, and that's why I love my car.

I've tried to cut the gas part of my budget, and this totally explains why I go over every month. I've tried carpool.ca, posting ads and asking around to carpool. I was biking a couple days a week (and starting to love it) but I can't do that right now, not in the winter. I have to drive, and 10% of my income is the price I pay to access the other 90%. I felt both like a winner for saving $1.06 on gas, and a sucker because for the foreseeable future, I'm going to pay the price at the pump.

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