I’m sure all of us understand what grade of gasoline our hot rod takes. In fact, that would hold true for our everyday car, our wives (or significant others), our kids, or whomever or whatever other car falls to our responsibility. So, I’m guessing when it comes to the cost of a gallon of gas the average hot rodder is all too aware of the associated cost.
For starters, I find myself writing this editorial at a time when 2016 is winding down and 2017 is about to start in earnest. What struck me, more like a blow to the head, was as I was standing in line come the end of the year I watched as the price of gas jumped 5 cents a gallon as I literally was pulling into the station. That just struck me as a big jump … and then I started thinking of just how many cars I put gas into! That’s when I really started to shudder. I became decidedly ill when I realized that not all of my cars take the lowest of low grades but a handful thoroughly enjoy (and demand) the good stuff … high octane, which for me is 91 (remember back in the old days when 100-plus was the norm for hot rodders?). In fact, should you have a real high compression wonder with steel cylinder heads you might even find yourself looking for Avgas or maybe something with a little extra punch that bumped up the octane to 107-plus, but you get the idea.
I thought I would look into it a little deeper (no pun intended) and see just what is going on with the price of gas as it will assuredly impact the amount of extra driving I do with my hot rods. My go-to source for gas prices is GasBuddy. They keep track of all things gasoline pricing in all 50 states and compare year over year and decade over decade. When you have the data in front of you all of a sudden you are thinking about an electric-powered hot rod or at least one that gets 25-plus miles per gallon. Both of which are possible but highly unlikely for this hot rodder.
Virtually all states saw their gas prices move up. The national average for a gallon of gasoline rose 6.4 cents in the last week (2016) to $2.35 per gallon, the highest since June 2016, according to GasBuddy data. And how does that compare to where we were a year ago?
Again, according to GasBuddy: The national average now stands 35.4 cents per gallon above the year ago level of $1.99 per gallon, up 17.4 cents in the last month. It’s a rare trend to see for the end of the year, which typically sees falling gasoline prices due to weak demand, but this season has been marred by OPEC’s decision to cut oil production in an effort to boost oil prices. So far the tactic has worked, with crude oil prices climbing to nearly $55 per barrel, a $12 jump versus prices before the decision.
It’s data like this that makes me realize as much as I like driving my 1929 Ford highboy roadster or want to rumble around in my 1947 Chevy pickup or my soon-to-be-finished 1955 Chevy gasser … I need to take stock. All three require high-octane gas and none get or will get anything in the way of gas miser fuel economy. While both the highboy and the pickup are pushing 20 mpg the fact is in this day and age that’s not really all that good … and it’s the more expensive 91-octane.
Did the price of gasoline jump because of OPEC or was it some other dastardly confounded evil doer? There’s no question as the price of a barrel of crude oil rises so do our prices at the pump, but there’s something else a foot.
As each of us watched the ball drop at midnight on New Year’s Eve (or if you were like me already asleep for three hours!) each of the states were busy getting the jump on increased state gasoline sales taxes. Should you find yourself lead footing it around Pennsylvania be prepared for a 7.9 cent per gallon increase, Michigan saw a 7.3 cent hike, with several states seeing smaller hikes: Nebraska (1.5 cents), Georgia and North Carolina (0.3 cent), Indiana (0.2 cent) and Florida (0.1 cent). New York and West Virginia saw their state gas tax levies drop by 0.8 cent and 1.0 cent, respectively.
Again, according to GasBuddy, “The shift in taxes represents a growing trend among states to boost taxes a large amount up front before tying future increases in gas taxes to prevailing inflation figures or rises in a benchmark of average gas price data.”
To support this data GasBuddy has determined that currently 86 percent of nationwide gas stations are priced over $2 per gallon compared to 61 percent a month ago. As a point of reference as to how gas prices generally go come yearend try this fact out: In 2014, December gasoline prices ended 50-plus cents a gallon lower than when the month started. Since 2011, gas prices have increased during December just once, in 2013, when the national average rose a nickel. The five-year average for the month is a decline of 12 cents. All this is out the window for 2016 going into 2017.
What does this mean as to how much more you will pay for gas in 2017? Odds are each of us will spend $120 to $180 more for our everyday cars. That means even more when we factor in our hot rods. So, be prepared … maybe it’s time to bring lunch to work, turn in all of those aluminum cans, or pilfer your kid’s inheritance. (I have already lost that battle!)
What does all this mean to you and me and the hot rod in the garage? Each of us will have a slightly different take but the reality is it will cost us more to enjoy fun with cars come this summer.
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