Americans are spending more than ever on gasoline. According to data released last week by the Oil Price Information Service and the AAA Fuel Gauge Report, American households have year-to-date spent 8.4 percent of their income on gasoline. This is up from 6.7 percent of household income in 2010 and is on pace to surpass the 7.9 percent number in 2008.
The average household is spending $50 more per month on gasoline in 2011 than they did last year. Also, motorists are paying significantly more at the pump than ever before for this time of year.
The current national retail average price for a gallon of self-serve regular gasoline is $3.40. Today’s price is three cents cheaper than one week ago and six cents cheaper than one month ago, but is still 51 cents more expensive than one year ago.
The monthly average prices for self-serve regular gasoline for November since 2005 are as follows:
2005: $2.29
2006: $2.22
2007: $3.07
2008: $2.12
2009: $2.65
2010: $2.86
2011 (so far): $3.42
If you or your business has been affected by this year’s high gas prices, you may want to consider investing in a GPS fleet tracking system. GPS vehicle tracking has proven to reduce fuel costs. The Aberdeen Group recently concluded that GPS vehicle tracking systems have helped companies reduce fuel costs by 13.2% on average.
Fleet GPS is a feature-rich navigation system that is uniquely positioned to help improve the efficiency of our cars in ways that reduce fuel consumption and improve sustainability for all. A GPS fleet tracking system can help you save time, money and and reduce fuel costs.