LPG 2000 Ltd. (Green Drive) calculates that switching to liquid petroleum gas (LPG) will save Israeli drivers NIS 468 a month.
Green Drive CEO Hagai Veregenski said that drivers using LPG would save NIS 5,610 a year. Converting a car to LPG costs NIS 9,200, meaning that the investment will be returned in 18 months.
The calculation assumes average mileage of 10 kilometers per liter, a price of NIS 5.80 per liter, and an average of 25,000 kilometers of travel a year (according to Central Bureau of Statistics figures).
Green Drive calculates that Israeli drivers spend an average of NIS 14,500 a year (NIS 1,209 a month) on gasoline, while using LPG would lower this cost to NIS 8,890 a year (NIS 741 per month).
Fuel prices will rise by 6% tonight. Converting to LPG will be worthwhile in the long term, provided that the tax structure is not altered. If taxes on LPG are raised, the worthwhileness of switching will decline substantially.
Published by Globes [online] - www.globes.co.il - on February 1, 2006