Americans Spent Highest Percentage Of Income In 30 Years On Fuel In 2012

Even though Americans are cutting down on how often they hit up the gas pump, as a country we’re paying a higher percentage of our incomes on gasoline than we have in the last 30 years. The Energy Department said in a new report that U.S. households shelled out an average of $2,912 last year for gas, or about 4% of their pretax income.

It’s kind of a bummer to hear such figures, especially with the increasing popularity of fuel-efficient vehicles and opting to say, walk or ride a bike instead of driving somewhere nearby, notes the Los Angeles Times.

“The effect of the higher prices in 2011 and 2012 outweighed the effect of reduced consumption,” the Energy Department said.

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