Average Household Now Spends $5,000 A Year On Gasoline
Want to really see how soaring gas prices are affecting your bank account? Look at the average you’ll spend on gas over the course of a year. According to a report from Yardeni Research, the typical U.S. household is now spending about $5,000 a year on gas. That’s up from $2,800 one year ago. Researchers say the spike in gas prices is causing more Americans to rely on credit cards to fill up the tank. Gasoline reached a record high of $4.59 in the U.S. this week. How have you adjusted your household to account for higher gas prices? Have you had to cut down on long-distance driving?