The average family vacation cost around $1600 in 2010 according to AAA and Money Magazine. If you are planning on driving for your vacation, how will the rising cost of gasoline hurt your plans? Here’s some math for ya:
If you drive a vehicle that averages 20 miles per gallon, an increase in the price of gas from $3/gallon to $4/gallon will add $100 more to the cost of a 2,000 mile trip. All things being equal, that $1600 family vacation will now cost $1700 or about 6% more. If you’re taking a road trip with your three buddies, the extra cost is only $25 per person. Here’s a quick look at the extra cost of driving with a $1/gallon increase in the price of gas.
At 20 miles per gallon (MPG), the extra cost is:
2000 mile trip: $100
3000 mile trip: $150
4000 mile trip: $200
At 30 MPG:
2000 mile trip: $67
3000 mile trip: $100
4000 mile trip: $133
At 40 MPG:
2000 mile trip: $50
3000 mile trip: $75
4000 mile trip: $100
So forget the panic and the media hype: driving is still a bargain. The extra dollar a gallon certainly hurts commuters who drive long distances each day, but for a summer vacation or road trip, the extra cost is manageable and driving somewhere (like the Mississippi Valley) is still much cheaper than other travel options, except hitchhiking or train hopping, which you shouldn’t be doing with your kids anyway.
Weigh in: How has the price of gas affected your summer vacation plans?
© Dean Klinkenberg, 2011
