Americans are spending four percent of their incomes on gasoline
POSTED: Tuesday, February 5, 2013 - 5:12am
UPDATED: Tuesday, February 5, 2013 - 5:16am
The Energy Department says U.S. households spent an average of a little more than $2,900 on gasoline last year. That's about four percent of the average person's income. The percentage reached similar levels in 2008, when panic over dwindling supplies sent gas prices through the roof. This is more than two and a half times what the nation's annual fuel bill was ten years ago. The nationwide average price for a gallon of regular gas hit $3.60 last year, which was another a record high.