Gasoline costs take biggest share of household income in three decades

Ben Geman
thehill.com
February 4, 2013

Trips to the gasoline pump in 2012 and 2008 took their biggest share of U.S. household income in several decades, according to the federal Energy Information Administration (EIA).

The Energy Department’s statistical arm reported Monday that the average household spent $2,912 for gasoline in 2012, which makes up almost 4 percent of pre-tax income, tying 2008 for the highest percentage in roughly 30 years.

Pump prices took center stage in White House races in 2008 and 2012, but gasoline expenditures as a share of household income remain lower they did than the early 1980s, when they were above 5 percent.

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This article was posted: Monday, February 4, 2013 at 2:14 pm

Tags: domestic news, economics

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