Individuals riding public transportation can save, on average, $9,242 annually based on the Jan. 11, 2010 national average gas price and the national unreserved monthly parking rate.
Compared to last year at this time, the average cost per gallon of gas was $1.79, which is nearly $1 less than the current price of gas at $2.75 per gallon. This increase in cost equates to an additional $600 in savings per year for transit commuters as compared to last year's savings amount at this same time.
"The Transit Savings Report" released monthly by the American Public Transportation Association APTA calculates the average annual and monthly savings for public transit users. The report examines how an individual in a two-person household can save money by taking public transportation and living with one less car.
Transit riders can save on average $770 per month. The savings amount is based on the cost of the national averages for parking and driving, as well as the January 11 national average gas price of $2.75 per gallon for self-serve regular gasoline as reported by AAA.
The national average for a monthly unreserved parking space in a downtown business district is $154.23, according to the 2009 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,850.