Individuals who ride public transportation can save on average $9,215 annually based on the March 3, 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 $1.933 which is $0.77 less than the current price of gas at $2.703 per gallon. The total savings as compared to last year at this time equates to an increase of an additional $715 in savings per year for transit commuters.
“The Transit Savings Report” released monthly by the American Public Transportation Association 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 $768 per month. The savings amount is based on the cost of the national averages for parking and driving, as well as the March 3 national average gas price of $2.703 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.