So I did a little work and have produced this Gas Savings Calculator

This spreadsheet requires you to simply enter 4 different numbers and you can see if your bike has paid for itself in gas savings, there are a few things to consider however.

For the first cell, you want to enter your distance by CAR. Your bike can take shortcuts, or the long way around. Your car has to go a certain path to and from work and it's that distance your car drives and uses gas on.

The gas price is pretty obvious. I also know that gas prices fluctuate throughout the year, so the mile by mile/day to day savings will be a little off, but this gives you a general yet fairly accurate idea.

Last but not least, I know gasoline isn't the only cost in owning a car. There is the wear and tear and inherent maintenance costs -the same can be said of your bike, although tires for a bicycle as opposed to your car will be significantly cheaper. Then there's insurance etc etc, the list goes on. The idea is to calculate how much you save in gas only.

Future updates may include a place to enter your insurance premium and car payment for those who don't own a car period, as a bike would pay for itself exponentially faster. Enjoy!

For what it's worth - it would take me over 4 years of cycling to and from work instead of taking my Accord to pay for my bike - post your results!