Did Ford Motor Company (F) Just Put Natural Gas Into Overdrive?

Yet Ford Motor Company (NYSE:F) points out that compressed natural gas currently costs on average about $2.11 a gallon, with prices in some areas as low as $1 per gallon. In contrast, unleaded regular fuel is $3.66 per gallon. According to some admittedly old data from the Energy Information Administration, the average household purchases around 1,100 gallons of gas per year, so with a savings of around $1.50 per gallon, all things being equal, it will take around 10 years to pay off the conversion.

Moreover, the CNG tank is typically mounted in the bed of the truck, meaning its full use is diminished.

While the news is more than just a step in the right direction, it won’t exactly put the pedal to the metal. While I’m convinced natural gas will be one of the main drivers for future economic expansion here at home, the industry is still stuck in traffic at the moment even though Ford Motor Company (NYSE:F) is doing its best to clear the road ahead.

The article Did Ford Just Put Natural Gas Into Overdrive? originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Clean Energy Fuels, General Motors, and Procter & Gamble. It recommends and owns shares of Ford.

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