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June 24, 2011
Drivers catch a break as gasoline prices fall
Ron Meyers, 51, a handyman from Little Rock, Ark., was doubtful that he could afford the drive to visit family in Pennsylvania. Now, thanks to cheaper gas, the trip is on. And he plans on seeing a few more summer movies, too.
"You can go out and have a good time, and have a little money left in your pocket," he said.
Why do squirrels collect a nut?
The reason why squirrels collect a nut is to prepare for winter, when it becomes harder for them to find food!
Okay, okay. I might have taken some liberties with that last link. It is possible that I may have altered the words slightly for sarcastic effect.
In all seriousness, I have squirrel tendencies. Some might even think I am nuts. So be it!
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
3.96 million SAAR in October
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
9 hours ago
3 comments:
As a side note, he is planning to drive a total of roughly 2,200 (round trip) miles.
Assuming 20 miles per gallon, that's 110 gallons of gasoline. A drop in gasoline of 38 cents means the trip is now $41.80 cheaper.
$41.80 made the difference between affordable and not affordable? Plus, he's now planning to see more summer movies based on the savings?
Further, the IRS claims this trip would cost a whopping $1,100 based on all the expenses that goes into car ownership (at 50 cents per mile). Has he factored in wear and tear on his tires for instance?
Forehead. Desk. Whack. Whack. Whack.
Mark,
We got a "special" mid year bonus thanks to oil speculators. $0.555/mile! Woohoo!
http://www.irs.gov/newsroom/article/0,,id=240903,00.html?portlet=6
From the above link:
In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.
It's a good thing house prices are falling!
Nice!
I see that the old rate was actually 51 cents per mile. That extra penny added another $22 to his trip.
That means the change to $0.555/mile added another $99 to his trip ($0.045 per mile extra).
Once he deducts the $41.80 in savings due to cheaper gasoline from the extra $99 he'll be spending overall, he'll still have negative $57.20 left to spend on those extra movie tickets! Woohoo! ;)
(I'm half-joking here. Maybe.)
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