Income vs. Gas Prices, an Update

Edmunds.com, which released an analysis saying that about 60 vehicles in the new-vehicle market now cost over $100 to fill up, also gave an update on how gas prices are grabbing more of consumers’ incomes. Edmunds says the median household is spending 11.5% of its income on gasoline, up from 4.6% of its income five years ago. Here’s a look at how that progressed:

Date* Price Per Gallon (1) Median Income (2) Income spend on fuel (3)
1991 $1.09 $30,126 4.9%
1995 $1.14 $34,076 4.6%
1999 $1.19 $40,696 4.0%
2003 $1.51 $43,318 4.8%
2007 $2.96 $48,201 8.4%
2008 $4.06 $48,201 11.5%

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Jim Nichols
A Speculative Fiction
www.JimNichols4.com