Additionally, the 3.3% estimated gasoline price rise in 2012 outpaced the 2.9% estimated increase in income. The 26.1% yearly increase in 2011 was six times greater than the 3.4% rise in nominal household income. As a result, expenditures increased to a record annual average of $2,655 per household in 2011, rising to an estimated $2,912 in 2012. The effect of the higher prices in 20 outweighed the effect of reduced consumption. However, at the same time, Bureau of Labor Statistics's average city retail gasoline price rose 26.1% in 2011, and another 3.3% in 2012, when it reached $3.70 per gallon. gasoline consumption fell in 2011 to 134.2 billion gallons, its lowest level since 2001. Although travel per household has increased significantly since the early 1980s, vehicle efficiency has also risen significantly, reducing the amount of gasoline used per mile.Įfficiency gains have accelerated in recent years, such that total U.S. However, these expenditures as a percentage of overall household income are still low when compared to the early 1980s, when the estimated portion of household income spent on gasoline surpassed 5%. Although overall gasoline consumption has decreased in recent years, a rise in average gasoline prices has led to higher overall household gasoline expenditures. This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount. household reached $2,912, or just under 4% of income before taxes, according to EIA estimates. Gasoline expenditures in 2012 for the average U.S. Spreadsheet software such as Microsoft Excel, Google Sheets and Apple Numbers all offer premade templates to help make spreadsheet budgeting easy. Republished: February 4, 2013, 10:00 a.m.: To correct an error in the text. While our 50/30/20 rule calculator can provide a general overview of your ideal 50/30/20 rule budget, a 50/30/20 rule spreadsheet is a good option if you’d like to create a more in-depth budget. Republished: February 12, 2013: To correct a data source in the text. Republished: February 15, 2013: To correct the data source of the graph.
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