Gasoline’s drag on income hits 30-year high

[CG6468]

Gasoline’s drag on income hits 30-year high

By Ronald D. White


Fuel costs are taking a big bite out of household budgets, according to separate reports Monday from the Energy Department and from the Union of Concerned Scientists.

The Energy Department says U.S. households spent an average of $2,912 on gasoline, or almost 4 percent of their pretax income, the highest percentage in 30 years.

That’s despite the fact that Americans consumed less fuel in 2012 for a variety of reasons, including more efficient driving habits and higher-mileage vehicles.

“The effect of the higher prices in 2011 and 2012 outweighed the effect of reduced consumption,” the Energy Department said.

Oil company ripoffs is the answer 

[JohnnyReb]

Oil company ripoffs is the answer 

30 years ago....dat wood bee jimmah Cotter's fault.....a democrat..... coincidence.....I think not.

[NHSparky]

And yet I read a story in the local rag (Foster's, if you're interested zeit) about how the IMPROVING economy is causing gas prices to rise.

Someone hasn't got their talking points in order, or so it would seem.

[CG6468]

$3.79 here today, $3.64 in Indiana.

[thundley4]

$3.81 for premium, and $3.61 for regular.  That's almost double the price when Obama first took office.

[Chris_]

I paid $3.249 at Thornton's.  15 gallons of gas lasted for two weeks.  At 25.95 miles per gallon over 393 miles, I paid 0.8 cents per mile.

Certainly doesn't feel that way when it comes out $50 at a time.