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Friday, June 10, 2022

Gas Prices Take Toll On RV Owners

Above, RVs driving through a Yellowstone valley. Photo by Armand Vaquer.

Sales of recreational vehicles are still high, but the huge rise in gasoline and diesel fuels is taking a big toll on RV owners.

According to Autoblog:

In 2021, RV sales hit a record high as people sought travel options involving the great outdoors. According to the Recreational Vehicle Industry Association (RIVA), manufacturers shipped an unprecedented 600,240 RVs last year, a 39% increase from the previous year. This year, however, RV owners are faced with a new dilemma: gas prices.

Gas prices are at an all-time high despite record profits from oil companies. Shell posted a record $9.1 billion in the first quarter of 2022, tripling their profit from the same period in 2021, while ExxonMobil made $9.3 billion in Q1, their biggest windfall in seven years. Meanwhile, oil companies receive $30 billion in taxpayer subsidies from the U.S. government.

Unfortunately, those profits are unlikely to trickle down to RV owners, who are forced to reckon with price shock at the pump. RIVA says the average RV owner travels 4,500 miles a year, which amounts to a significant chunk of change considering fuel rates are at a national average of $4.97 per gallon right now, according to AAA, a 62% increase since one year ago.

 To read more, go here.

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