Moving a giant chunk of metal from point A to point B hasn’t been this cheap in years, as global oil prices sink to $65 per barrel. Drivers have noticed: From August to September, the aggregate fuel economy of purchased cars dropped from 25.8 to 25.3 miles per gallon, according to the University of Michigan’s Transportation Research Institute. That metric didn’t budge in October, even though dealerships started selling next year’s models, which are generally more efficient—a sign that drivers have been choosing SUVs over small sedans. “Consumers react very quickly to changes in gas prices, especially if those changes are relatively rapid,” said Michael Sivak, director of sustainable worldwide transportation at the University of Michigan.
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Earthgarage – Greener Car. Fatter Wallet.