Upping fuel economy for trucks would yield savings for consumers and boost economy, report says

| February 05, 2014

fuelThe average U.S. household would save about $250 a year if medium- and heavy-duty trucks in the U.S. cut their fuel consumption by 50 percent, according to a report released this week by the Consumer Federation of America. 

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That would equal about $29.5 billion in savings nationwide, per the report, which says that American households pay about $1,100 a year due to truck fuel costs, a number that’s expected to rise unless the U.S. implements new fuel economy standards for trucks, the report says.

And as fuel prices rise, the report says, the annual per-household savings could rise to as much as $400 by 2035 with that same 50 percent reduction. 

The report, dubbed “Paying the Freight: The Consumer Benefits of Increasing the Fuel Economy of Medium and Heavy-Duty Trucks”, states the obvious as far as fuel prices and the price of goods, saying reducing fuel costs will also reduce the cost of what consumers pay.

Lowering the price of goods by lowering transportation costs could also act as an overall stimulant to the U.S. economy, the report notes, freeing up disposable income for households. 

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Reducing fuel consumption, obviously, is in the interest of truck owners, too, the report notes: “One of the reasons we believe a strong fuel efficiency standard for heavy-duty trucks will be implemented is because key components of the trucking industry are also seeking ways to reduce the enormous impact of fuel expenditures on their costs,” said Jack Gillis, director of public affairs for the Consumer Federation.

Lastly, the CFA report says there are two key “social benefits” to reducing fuel consumption of heavy-duty trucks: Reducing pollution and greenhouse gas emissions and cutting the country’s dependence on foreign oil, which would be a boost to national security. 

Click here to see the report.

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  • Todd

    I bet the report doesn’t tell you how that will impact the amount of fuel tax needed to maintain or improve roads. If you reduce fuel consumption by 50%, they will also need to increase diesel fuel tax by 50%. We will still be driving the same amount of miles, buying less fuel, paying more taxes, and having to buy all the latest gadgets to increase our fuel economy by 50%.

    How will this save money for the consumer?

  • me

    So who says the price of fuel will NOT go up when consumption goes down ? LOL, some of these people are idiots or are playing us for fools.

  • worzelly

    taking profit from the trucker again to help someone who has no skin in the game!!!

  • worzelly

    who will pay the cost to achieve this …of course the trucker…these people need to get some sleep!!

  • Woods

    these people are really crazy , nuts ,out of their minds . what are they thinking and scared to death wondering what they come up with next. right here they are saying it is carriers fault because price of merchandise on shelf is so high. pointing blame everywhere except their direction. SHUT THEM ALL DOWN. see how they like us then. I HATE STUPID PEOPLE.

  • 4B

    Time to let the government have the trucks…they know what’s best.park them and let it be like the postal service…

  • Jon McLaughlin

    Yes, of course boost the fuel economy of big trucks. But at what cost. They added DEF to cut pollution, at an added cost to transporting freight. Any changes to cutting waste is going to cost us in the purchase price of the new truck or at the shop for the updates. When we get them done and our fuel cost goes down, so will our rates and we end up eating the full cost of the upgrade. Win, Win for them and we lose in the end. THINK AGAIN!!!

  • Corbin

    Thanks Captain Obvious! A 50% reduction in government spending would save each household a lot more than $250.

  • Kurt Keilhofer

    What would the savings be per household if home heating efficiency went up 50%, or the price of home heating oil went down 50%?
    How much would the average home save if trucking fleet driver turnover was not over 100%?

  • Kurt Keilhofer

    It would only save money for the consumer if fleets cut their rates to reflect the fuel savings, which really should be kept as profit or to improve stagnant wages.
    Of course if freight was hauled for free it would be an even bigger savings for consumers!

  • KenworthToyMan

    I would like to know what a truck that gets twice the milage will cost to buy?

    I average 4.39 MPG hauling 180,000 Lbs. ( oversized loads )

    That means that 3,000 Lb Toyota Prius needs to get 263.4 MPG to be as efficient as I am.

  • Michael Wiedman

    You GUYS should get mad, because without truckers haulin, we DON’T have to worry about our ECONOMY…there would be none…Personally, I think some of these so-called experts should be slapped with a heavy STINKY fish; not only would it hurt, othersw would know just what kind of ideas they have…But SERIOUSLY,
    There is a way to increase torque; reduce the use of DEF; reduce emissions 30%; practically eliminate that damn RED LIGHT; INCREEASE YOUR FUEL EFFICIENCY; DIESEL/CNG by an average of 12%…and PROVEN REDUCEDMAINTENANCE AS WELL…I’ll share the phone numbers of guys like you, not marketing hype…Some are bragging “20%”

    Kurt, you’re right on target…$250 per household will not boost our economy, because that $250 will be quickly swallowed up by rising Cost of Living.
    Less immediate pressure from up…up…up fuel prices will.mot NOT SOLVE the PROBLEM; DEPENDENCY, ..but if your an INDEPENDENT work your own numbers at 12%; less cost for DEF; Reduced mainmtenance costs 20%…add in the value of YOUR MAN HOURS and if YOU’RE ONE OF THE MANY “ROLL UP YOUR SLEEVES” GUYS…Then TELL ME your BOTTOMLINE IF THAT resulted in KEEPING THAT EXTREME ENGINE 2 MORE YEARS UNDER YOUR HOOD.
    CONTACT ME ON LINKD IN, or CALL:
    717 747-1767
    DID I MENTION MONEY BACK GUARANTEE?

  • http://www.truckertwotimes.com/ Truckertwotimes

    And on the other hand, if they would cut the weight and size of all the trucks down by 50% and double up on a new termed “Mini Swivel In The Middle Unit” that would cut costs as well, to go even further and help the ever increasing overburdened load on the same amount of highways we already have, cut the birth rates back to 0.001% leaving that .001% open only to the perfect God of Loins for ten years, that would add an extra 64.456% reduction in both needed food AND non food items, therefore increasing an economic boost after “other expenses” (toilet paper) to the smart folks that took an extra credit in college by exactly 13% min non taxable and duplicateable after the 4th year less 1 to 3 months depending on their GPA they could increase their income by 13.333 percent per quarter making each quarter pay for itself repetitively therefore making their bloodline even better than the generation before them, and after only 4 sets of quarters become God.