New UCS analysis: AB 32 can save drivers $3,000+ in fuel costs
By Shannon Baker-Branstetter on Tuesday, September 30th, 2014
Today, the Union of Concerned Scientists released a new study: Driving Progress, Fueling Savings: How California is Tackling Global Warming, Cutting Oil Use, and Saving Drivers Money that quantifies both the costs and savings associated with California’s AB 32 transportation policies and finds that, overall, California drivers will save money due to AB 32.
According to UCS’s calculations,
- A California driver who purchases a new car in 2015 can expect to save an average of $3.90 each week over the life of the vehicle compared to a driver who purchased a new vehicle in 2008, prior to implementation of California’s low-carbon transportation policies. That adds up to saving more than $3,000 over the 15 years a typical vehicle is on the road.
- A new vehicle in 2020 is expected to yield an average of $5.20 a week in savings and more than $4,000 over the life of the vehicle.
- A new car in 2025 will save a driver an average of $9.00 per week and $7,000 over the life of a vehicle.
- A 10-year-old used car in 2025 will save its driver $7.50 a week, or nearly $400 a year, over the remaining lifetime of the vehicle compared with a 10-year-old used car purchased in 2015.