U.S. household spending for gasoline is expected to remain below $2,000 in 2017

7 Oct 2017   USA

The average U.S. household expenditure on gasoline in 2017 is expected to total $1,977, or approximately 2.4% of mean incomes of households, according to projections in EIA’s most recent Short-Term Energy Outlook (STEO). The most recent peak for household gasoline expenditures was $2,715, or 4.0% of household income, in 2008. More recently, average household gasoline expenditures in 2015 and 2016 were near or below $2,000, or 2.5% of total household income. Household gasoline expenditures have fluctuated over the past 10 years as a result of changes in gasoline prices and consumption. When gasoline prices are relatively high, more of a household’s income is devoted to gasoline expenditures, leading to lower gasoline consumption and efforts to improve vehicle fuel economy . Declines in gasoline prices since 2012, however, have led to increases in vehicle travel and increases in gasoline consumption. Based on EIA’s latest STEO projections, continued low gasoline prices […]

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