Question Of The Week: What Do Low Fuel Prices Mean For Your Racing?

As everyone reading this with a drivers license is fully aware, the price of fuel has plummeted in the last two months, thanks to a world oil supply that’s exceeded actual demand, due to a number of key factors. The result is per-barrel oil price that’s dropped more than 50% since June and some much-needed relief for every American. Today, the national average price of a gallon of regular gasoline sits at $2.11, while diesel is down to $2.98. Just one year ago, those prices were $3.31 and $3.86, respectively, marking a very considerable decrease in the overall cost to fill one’s tank.

Interestingly, analysts forecast that these oil prices are expected to continue well into 2015, and just yesterday, Saudi Prince Alwaleed bin Talal shared with the media that he believes oil prices will never again reach $100 a barrel — quite a statement for a commodity that’s done nothing but increase in price at a rapid pace over the last decade. But let’s just propose that fuel prices do fall back to an early-2000’s price level and remain there for some time…what does it mean for drag racing, and racing in general?

…none of us know just how long these hard-to-believe fuel prices will last, but while it continues, what effect will it have on your racing?

There’s little denying that the cost of fuel has had a damaging effect on drag racing since the turn of the century, as the cost of travel is very central one’s racing budget. After all, racing in itself is expensive enough, but the thousands of miles on the road a year add up pretty quick.

In 1995, the cost of retail diesel was a little over a buck per gallon. A decade later, it was $2.50 and rising sharply to nearly four bucks, with only a short dropoff during the economic downturn in 2008 offering relief before it climbed back up into the $3.80-4.00 range from 2011 through 2014. Regular fuel prices have largely mirrored the trend of diesel, although the average price hasn’t reached quite as high as diesel has.

With travel costs nearly quadrupling, we’ve seen an overall decline in the number of active racers in the last decade or so, and also a significant drop in racers traveling outside their immediate region for national events that previously drew large out-of-division crowds. For the top professional race teams who move sizable entourages down the highway, the drop in fuel prices is certainly welcome.

Sure, none of us know just how long these hard-to-believe fuel prices will last, but while it continues, what effect will it have on your racing? Are you planning to do some additional traveling this year while it’s affordable? Will you do more traveling to spectate big events that you otherwise wouldn’t have? Tell us your thoughts!