Saturday, September 15, 2012

CNG use saved CNG Injun almost $3,000 in one year

Bill Edwards, aka CNG Injun, recently explained his sustainability plan to me:
It has been just over a year since I started driving my 2004 F-150 Bi-Fuel CNG truck. It was obvious to me that I was saving money every time I filled up, boy I sure love to see those $8-$12 fill-ups! I knew that I had saved a lot over this past year, but really wanted to quantify the total value of the savings. 
Doing a quick calculation based on buying CNG for half of the cost of regular gas came up with a savings of $3,452, but knowing that the assumption was not always true, I came up with a better way to do the calculation by exporting my CNG consumption records into MS Excel.
Then I found the historical data for the price of regular gasoline in the Tulsa, OK area at Gas Buddy.  The price of gasoline in Tulsa over the past 18 months varied from $2.92 to $3.75.

As I am not trying to prove I discovered cold fusion, I took the liberty of simplifying the data entry process by using the gasoline price from the graph for every date datapoint. 
After plugging all of the numbers into the spreadsheet, the data of the CNG usage looked like this:

That’s right, the bottom line savings in fuel cost was around $2,880 on an annual basis. If I continue to drive about 22,000 miles each year and assuming that the truck can last 6 more years (up to a total of 172,000 miles on the odometer), I should be able to save a total of $20,160 in fuel costs! That is enough to buy a replacement vehicle twice as nice as this one with the savings! Now that’s what I call a sustainability plan…no capital investment for vehicles from now on, just maintenance and fuel! You got to love that CNG!

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