With gasoline prices hovering around $3.50 a gallon and expected to head higher, many have pushed for more natural gas fuel to lower demand.
It’s an abundant commodity in the U.S., but infrastructure restraints have slowed any chance for natural gas filling stations to sprout. Also, the cost to convert cars from oil-based gasoline to natural gas is expensive in the short run.
Michael Tilley with our content partner, The City Wire, examines Fort Smith-based AOG, which has opened up a 24 hour CNG (compressed natural gas) station for public fueling purposes.
The gasoline equivalent cost of compressed natural gas, based on recent natural gas commodity costs, is about $1.39 a gallon. Fuel mileage is equivalent.
A CNG user buying 200 gallons of fuel a month will spend $278, while a gasoline vehicle owner with the same amount of fuel will spend — at $3.50 per gallon — $700. Annualized, that comes to a savings of $5,000, and CNG proponents also claim that natural gas motors require less maintenance.
You can read more on the subject at this link.