Forget Hybrids: The F-150 Is Why Gas Prices Are So Cheap
According to a recent report, no vehicle has impacted gasoline consumption more than the F-150.
As you likely already know, many factors affect gas prices. One of the biggest is demand. And just like we all learned back in that high school economics class, less demand typically leads to lower prices. This is especially true in the oil industry, and softening demand for gasoline in the U.S. has played a big part in keeping prices low.
It’s not because Americans are traveling less, because they’re actually driving more. Which leads us into the subject of efficiency. And with all of the hybrid and electric vehicles hitting the roads today, you’d be forgiven for assuming that they’re the main contributing factor. But you’d be wrong. Because a new study from Rice University credits Ford’s F-150 for the drop in gasoline consumption.
That might seem crazy, but bear with us. We already know that the F-150 is America’s most popular vehicle, and it has been for many years. In fact, Ford sells roughly four times as many F-Series trucks per year than Toyota sells Priuses. So when Ford makes incremental improvements to the F-150’s efficiency, it makes a huge difference on America’s gas usage.
It’s a simple and obvious way to reduce our gasoline consumption and keep prices low. “For better or for worse, a big chunk of American drivers like large, powerful vehicles,” the paper’s author, Gabriel Collins, told the Houston Chronicle. “So if you can find a way to make those vehicles more efficient, that’s really low-hanging fruit.”
It’s all about the economies of scale, after all. Over the last five years, Ford has improved the F-150’s average fuel economy by around 5 mpgs. That improvement shaves one gallon (or 17%) from its gasoline usage over 100 miles, which now stands at 5 gallons. Over that same time period, the Prius has enjoyed a roughly 6 mpg improvement, but still uses two gallons of fuel to travel 100 miles. That means, according to Collins, that it takes six new Priuses to equal the gas savings of one new F-150.
So the next time some hybrid driver takes credit for today’s attractive gas prices, just show them this story. And tell them they’re welcome.
