Energy Action Network Vermont

Gasoline prices were nearly 50% higher at the end of May ($4.47/gal) compared to prices before the war in Iran ($3.00/gal). Price spikes have added more than $75 a month in costs for the average Vermont driver. This is according to Energy Action Vermont, which recently released an analysis on the fossil fuel price impacts of the war in Vermont.

An increase of $75 a month in gas prices means that Vermonters are now spending a monthly average of $240 on gasoline. Of course, this number is just an average–drivers of pickup trucks and vehicles with low mileage are paying even more. 

Vermonters have also been paying more for fuel oil–the most commonly used residential heating fuel in Vermont–since the war. Prices rose from $3.98/ gallon at the end of February to an average of $5.09/gallon in May. This means that a 200-gallon delivery of fuel oil cost an average of $316 more on March 31st than it did on March 1st ($1,112 vs. $796). Because this winter was colder than usual, families still needed to make fuel oil purchases late into the season when prices were still high.

The increase in fossil fuel costs borne by Vermont households may not seem substantial, but it adds up when taken over many months. Spending $75 more to put gas in your car to get to work means that there is $75 less to pay for necessities like food or rent. Having to come up with $300 more to fill your fuel tank than you did when you last filled it is a huge burden to many households that are living on the margins.

The war in Iran has demonstrated how volatile fossil fuel prices are. They are part of a global market that is easily affected by supply problems due to global conflict. In the graph included here, you can see how the prices of diesel and gasoline have fluctuated wildly over the past twenty years, as the cost to drive an Electric Vehicle (EV) has stayed relatively constant. This demonstrates the single best way to reduce spending and price uncertainty: go electric. Switching from a gas vehicle to an EV is estimated to save almost $10,000 over the life of the vehicle. The same goes for heating fuel–heating with a heat pump is cheaper and avoids cost spikes.

For help using less fossil fuel, contact Sustainable Woodstock. We offer grants for sustainable home heating and weatherization projects. Eligible households can receive up to $3,000 for appliances such as heat pumps, pellet stoves, and heat pump hot water heaters, and for weatherization projects such as insulation that can be combined with Efficiency Vermont rebates.  There are also free programs through the state for income-qualifying households that we can help you apply to.