XENIA — Fuel frustration is hitting drivers hard again today as gas prices jumped more than 20 cents overnight.
The increase comes as a new analysis found that it costs more than $12,000 a year to drive a new car.
News Center 7’s Consumer Reporter, Xavier Hershovitz, spent the day in Greene County, where prices have surged over $4 a gallon.
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Teresa Nooks, of Xenia, said, “Wow! It’s outrageous.”
She filled her car in Xenia on Wednesday for $4.29 a gallon.
“I thought it was going down, but it looks like it’s going up, up, up,” Nooks said.
When it comes to owning a car, that’s just one expense.
Chelsea Sick, Public and Government Affairs Manager with AAA Club Alliance, said, “Day to day, when you go to the gas pump, that’s where you’re probably going to feel it the most.”
In a new analysis, AAA found that the average cost to own and drive a new car is more than $12,000 a year. That’s more than $1,000 a month.
“It includes insurance, depreciation, tires, taxes, and registration – all of those factors,” Sick said.
While rising gas prices over the last year have been the most direct cost-to-consumer, AAA said when it comes to a new car, depreciation has the larger impact,” Sick said.
She continued, “That is really the difference between what you pay for a car and the resale value. And that is still $4,422 a year that an owner is losing by operating a new vehicle.”
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