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Saturday, April 13, 2024

Fuel Efficient Trucks Help Households Save Money, Study Says

Fuel-Efficiency A group representing more than 260 non-profit consumer organizations says continuing to increase the fuel efficiency of medium and heavy-duty trucks will save the average household $250 a year in the cost of consumer goods and services.

“We know that the fuel costs associated with shipping goods cross country heavily impact the price of everything from a carton of milk to a pair of shoes. Strong standards that cut fuel use by nearly 50% could put $29.5 billion dollars back into the pockets of Americans,” said Dr. Mark Cooper, The Consumer Federation of America’s director of research and author of  the study, Paying the Freight: The Consumer Benefits of Increasing the Fuel Economy of Medium and Heavy-Duty Trucks.

According to a report by Heavy Duty Trucking, The study examines the costs of energy used by medium and heavy-duty trucks, the potential for energy savings among these vehicles and the positive impact that their increased fuel efficiency will have on America’s households.

“While direct household expenditures on gasoline are significant, they are only part of what households spend on energy. Consumers also pay the cost of commercial transportation fuel in the price of the goods and services they buy. As such, reducing the energy consumption of big truck fleets will have a positive impact on household expenditures,” said Cooper.

In 2011, the US federal government adopted fuel economy standards for medium and heavy-duty trucks for the first time. They are taking effect this year and will be applied through 2018.

The CFA report also concludes:

• American households pay over $1100 per year due to medium and heavy-duty truck fuel costs. Without new standards, this amount is expected to grow considerably during the next two decades.

• With standards, as fuel prices rise and transportation services increase, the potential household savings could rise to over $400 per year by 2035.

• Because the transportation sector is very competitive, the related cost savings in fuel will be passed through to consumers.