The University of Michigan reports the good news that fuel economy of new vehicles at all-time high.
Fuel economy of new vehicles sold in the United States is at its highest level ever, say researchers at the University of Michigan Transportation Research Institute.On top of that good news, the price of gas went down this week in fits and starts from where it was last week at $3.69. Monday morning, I noticed the corner station at $3.59. By Monday evening, the price had returned to $3.69. Darn, it was just a dip.
Average fuel economy (window-sticker values) of cars, light trucks, minivans and SUVs purchased in March was 24.6 mpg, up 0.2 mpg from the revised figures for both January and February—the previous highs. Last month's mark is 4.5 mpg higher than in October 2007, the first month of monitoring by UMTRI researchers Michael Sivak and Brandon Schoettle.
Thursday morning showed that maybe the price was headed down after all, as the three stations at the corner were selling for $3.65, lower than the corner station at $3.69. Today, the corner station had dropped its price to $3.59 again. That's good news, although I still expect the price to go up between now and July 4th in small steps.