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A wide range of analysts, including the U.S. Energy Information Administration (EIA), are forecasting the highest gas prices in four years for the summer of 2018. EIA projects that this summer, gas prices will average around $2.74 per gallon, up from $2.41 per gallon last summer. If we add to these projections the fact that there have never been more or better EV options than today, we can confidently say that there has never been a better moment to switch to driving electric!
Why the higher gas prices? Lower domestic oil production and global economic growth are partly to blame. These factors are compounded by the fact that prices at the pump usually rise in summer months as demand increases from families going on vacation and taking road trips. U.S. consumer demand for gasoline already hit a record high in the month of April 2018, according to the EIA. One of the many benefits of EV ownership is insulating your budget from economic fluctuations like these, both at home and abroad.
Consumers, especially low-income drivers, will be hit the hardest by the price increase. However, you might say that high gasoline prices aren’t all bad news. High prices are encouraging some to consider more fuel-efficient vehicles, like EVs! That being said, prices remain well below 2008 levels, when crude oil prices reached $130+ per barrel and average gas prices soared to an all-time high of $4.11 per gallon.
Are you or anyone you know considering switching to more fuel-efficient vehicle to avoid the climbing gasoline prices? In case you’re leaning toward a newer, more fuel-efficient gasoline-powered vehicle, you may want to consider some numbers Jalopnik recently crunched. Jalopnik was interested in testing the truth of the claim some make, that rising fuel efficiency in gasoline-powered vehicles offsets the rise in gas prices. According to their math, this claim is false. Despite the fact that many newer gasoline-powered vehicles boast improved fuel-efficiency over their earlier incarnations, this improvement does not compensate for the recent increase in gas prices.
The only way to capture substantial fuel savings and totally insulate yourself from the volatile oil market is to drive an EV! And unlike some areas of the United States, northern Coloradans are fortunate to have many EV options right at their fingertips. If you’re ready to make the switch to an EV and start capturing big fuel savings today, here is a list of some of the EVs available for immediate purchase in northern Colorado as of publication date:
39 New 2018 Nissan LEAF
5 Used 2015-2017 Nissan LEAF
1 New 2018 BMW i3
3 Used 2014-2016 BMW i3
3 New 2018 BMW X5 xDrive40e
1 Used 2016 BMW X5 xDrive40e
1 New 2018 BMW 3 Series 330e iPerformance
1 New 2018 BMW 5 Series xDrive iPerformance
Fort Collins Mitsubishi:
6 New Mitsubishi Outlander PHEV
3 New 2018 Volvo XC60 PHEV T8
1 New 2018 Volvo S90 PHEV T8
1 Used 2017 Volvo XC90 PHEV T8
1 New 2018 Chevy Bolt
2 New 2018 Chevy Volt
2 New 2018 Prius Prime
1 Used 2017 Prius Prime
Audi Fort Collins:
2 New 2018 Audi A3 e-tron 1.4T Premium Sportback
Fort Collins Chrysler:
2 New 2018 Chrysler Pacifica PHEV
2 New 2018 Kia Niro PHEV