High Gas Prices Got You Down? Ride A Bike!
March 18, 2022
by Colin Reis
It’s a crazy time to be alive. We’re two years into what seems like a never ending pandemic, and Russia has invaded Ukraine. Everyone has been impacted with the rising tide of inflation, and more recently (and abruptly) higher gas prices.
Supply and demand for gas has changed drastically in the last two years. Unlike bicycles, demand for gas plunged at the beginning of the pandemic while we stayed at home due to lockdowns. Oil producing nations (like Russia) severely cut back on production. As the economy recovered and people felt more comfortable going out, the demand for gas increased while oil production was slow to catch up, consequently raising the gas prices. On March 8th, President Biden announced a US ban on Russian oil which added fuel to the flames of rising gas prices.
One thing we’ve all gotten used to doing in the last two years is adapting; working remotely, social distancing, and buying more things online are a few examples, but what about riding your bike instead of driving your car?
The average cost per gallon is currently at a record high, hovering around $4.30 a gallon, and it’s very possible it could exceed $5.00 per gallon. Below is a graph from gasbuddy.com that shows the average cost per gallon over the last 18 months.
We have a saying here at Cane Creek that goes “don’t ignore the obvious” – riding your bike instead of driving your car can help you save money on gas. Riding a bike is also a good form of exercise, it’s good for the environment, and most importantly it’s fun.
It could do us all some good to slow down sometimes, smell the roses instead of exhaust. Take some time to take in your surroundings, rather than zoom past them – you may see something new.
Consider commuting to work on your bike tomorrow – grab the lycra and backpack and hit the road. Think about the money you could save. According to the Alternative Fuels Data Center, the average fuel economy for cars in America is just under 25 mpg. If your commute is 15 miles, at $4.30 a gallon that’s $2.58 you’d be saving one way, and $5.16 savings round trip. You could buy a bagel with cream cheese, a pastry with espresso, an ice cream cone, or any snack you like to eat. That snack will provide you with the extra fuel you need to finish your commute. Sounds like a win/win to me.