There seems to be no stopping the oil companies, as the price at the pumps continues to rise to astronomical heights for a myriad of reasons, valid or not. Civil wars, international conflicts, hurricanes, lack of refining capacity… they all seem to conspire to increase oil, and therefore, petrol prices.
In the face of rising petrol costs, many consumers are beginning to consider the option of a hybrid vehicle – one which operates on both petrol and electricity. All of the models of hybrid car will save money in terms of petrol expenditures, but are they really effective when all of the costs of maintenance and other considerations are factored in?
Right off the bat, consider the cost of buying a hybrid vehicle, which can cost thousands more than a similar spec non-hybrid model. These prices need to be stacked up against the savings that a hybrid car owner would gain in petrol, factoring in the mileage needed. One report, for example, shows that huge price increases in the cost of petrol would need to take place, or the vehicle owner would need to put on some serious mileage, in order for the hybrid models to gain a sufficient price saving advantage when stacked up against initial purchases.
The one exception in the study was the Toyota Prius, which compared very effectively in terms of initial cost with the similar but non-hybrid Camry model. The consumer watchdog points out, however, that as the hybrid cars become increasingly more available as a reflection of demand the prices can be expected to drop, making them more cost effective over their lifetime.
Also important to keep in mind is the fact that the hybrid cars have a much more specialized system than the standard vehicle, and will therefore require a more specialized mechanic when it comes time for any repairs. Most consumer reports suggest hybrid cars require an investment of at least five years in order to break even as far as initial costs go, and do not take into account the possibilities of damage that requires fixing to the power train of the vehicles.
It seems as though, at least for the time being, the purchase of a hybrid vehicle for the average consumer may not be the best option when it comes to saving money. It is important to keep several things in mind, however, when considering purchasing a hybrid model. Many consumers are choosing to purchase these cars because they represent a significant development in terms of environmental concerns over standard models. They also mean that as a whole, Western nations will become less dependent on oil as the sole means of power.