New Car Pricing Reviews and Specs
New car buying made easy and hassle free.
Americans Lose $1.5 Billion at the Pump
02:51 p.m. EDT, July 09, 2007

ABC News reports that each summer consumers lose about $1.5 billion at the pump as a result of gasoline expansion.

Technically a gallon of gasoline is defined as 231 cubic inches when measured at 60 degrees F.

Like most liquids, however, gasoline expands at higher temperatures so that in the summer months drivers are short-changed 3 to 9 cents per gallon or approximately $1.50 on a 20-gallon fuel tank.

There are currently some 20 lawsuits pending across the nation in an effort to compel the oil industry to install temperature monitoring devices, like those used in Canada, to regulate gasoline price levels accordingly.

Although consumers are behind such measures, many gasoline station owners are wary of a retrofit that would cost between $2,000 and $7,000 per pump.

The oil industry insists current price levels are fair, pointing out that cooler winter prices offset summer losses to expansion.

Conversely, however, sun-loving Americans are on the road more during the hot months, burning more gasoline at higher prices.

In a press release from the California Independent Oil Marketers Association, Jay McKeeman, vice president of government relations and communications said, "Before costly solutions are forced on consumers and retailers, it's imperative to confirm whether the problem is real, how widespread it is, and whether the costs of implementing any solution will be offset by a real and measurable economic benefit."

The National Conference on Weights and Measures is to be held next week and is expected to offer an opinion on the controversy at that time.


Bookmark and Share

News Archive
2007 -   June  |   July  |   August  |   September  |   October  |   November  |   December  |
2008 -   January  |   February  |   March  |   April  |   May  |   June  |   July  |   August  |   September  |   October  |   November  |   December  |
2009 -   January  |   February  |   March  |   April  |   May  |   June  |   July  |   August  |   September  |   October  |   November  |
Free Price Quote
Cheap Insurance Rates
Finance your new car
Home  |  News  |  Car Quote  |  Reviews  |  Articles  |  Finance  |  Insurance  |  Hybrids  |  Dealers  |  Site Map  |  Privacy Policy  |  Contact Us  |  Twitter  |  Facebook
RSS 2.0
Data Powered by IntelliChoice
© 2007 CarSeek - All Rights Reserved