You think gas is finally getting cheaper? Cars that use less gas may be a bit more expensive, but save you money in the long run? Households in the United States spent a record amount on gasoline last year, the U.S. Energy Information Administration said on Monday. More of your income is going out and exhaust pipe than at any time since the 1980s.
The average household expenditure on gasoline stood at $2,912 in 2012, the EIA said, approximately 4 percent of pre-tax income.
“Although overall gasoline consumption has decreased in recent years, a rise in average gasoline prices has led to higher overall household gasoline expenditures,” the EIA told Reuters.