Just in time for the Fourth of July, gas prices have dropped nationally by almost four cents.
In some industries, four cents may not seem like a lot, but when it comes to fueling up your car, slight price fluctuations have a big impact.
Gas prices in the United States piqued in 2008 with the record average of $4.09 per gallon nationwide. Since then costs have been slowly declining, falling just below $3.50 as of Monday.
Even with the more optimistic trends in fuel costs, many Americans continue to seek ways to cut down on their common travel expenses and lessen their reliance on gas consumption. Commuters flocked to public transportation in record numbers last year, and even with its potential professional drawbacks, telecommuting is on the rise.
Another prominent trend is the auto industry’s increasing interest in hybrid motor technology and electric cars. Tesla, a relatively young Silicon Valley-based electric car company, has recently made headlines for its rising stock value. Companies like Tesla have forced other heavy hitters in the auto industry to rethink what the public wants, and what it’s willing to pay for.
While many analysts recognize that fuel economy isn’t the be-all and end-all of saving money — or the environment — they cannot deny that the new innovations in electric car and hybrid engine technologies is revolutionizing the industry.6 comments on this story
In light of this current trend, Consumer Reports has issued a list of the 35 most fuel-efficient cars on the market in 2013. The report seems to project a list of who’s who in the auto industry right now, displaying which companies are investing the most in the future of fuel-efficient technology.
For example, the company with the largest representation on the list is Toyota, which manufactured six of the 35 cars recognized, three of which are in the top 10. Other names on the list include companies closely associated with the hybrid movement, such as Honda and Ford, and newcomers to the American market such as Fiat.