Consumers Taking Financial Hit from Gas Prices


The Tinman isn't the only one feeling the pressure of rising fuel costs. According to CSNBC, despite a general decrease in gas consumption over the years, the price of gas continues to rise ever higher. 

Recently, the U.S. Energy Information Administration made it public that "total gas expenditures in 2012 reached  $2,912" for the average American household. That is just below 4% of household income before taxes. This is the largest amount of cash spent on gas that many households have seen in decades.

It doesn't look like Americans will obtain a reprieve from this trend in the forseable future either. Prices are being predicted to go up again in late February or early March. Perhaps the best solution for most Americans is to try and utilize bicycles and other personal vehicles when possible.




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