Driving faster than the speed limit costs you - and doesn't actually save much time

Key Points:

• A University of Minnesota study found that driving at or below posted speed limits could save U.S. drivers $22 million daily in fuel costs, reduce fuel consumption by 6.7 million gallons, and cut 57,000 metric tonnes of CO2 emissions each day, comparable to removing 5.5 million cars from the road.
• Despite common beliefs, speeding only saves about 54 seconds on an average daily trip of 28.6 miles, making the time saved negligible compared to the environmental and financial benefits of slower driving.
• The research analyzed 120 million vehicle trips across the U.S., revealing that over 43% of trips involved speeding, with drivers spending nearly 12% of their time above speed limits, especially in states like Nevada, Florida, Georgia, and North Carolina.
• Slower driving also benefits electric vehicle efficiency, as shown in California modeling, and could influence oil market demand by reducing fuel consumption amid high gas prices driven by geopolitical tensions.
• Experts note that while fuel savings from slower driving represent a small fraction of total U.S. gasoline use, it is a cost-free measure that can contribute to improved fuel efficiency and emissions reductions during the ongoing transition to electric vehicles.