Individuals who ride public transportation can save on average $9,453 annually based on the May 3, 2010 national average gas price and the national unreserved monthly parking rate. On a per month basis, transit riders can save on average $788 per month.
According to the 2010 edition of the AAA annual report, ‘Your Driving Costs’ the cost of owning and operating a vehicle has increased 4.8 percent since last year. The leading factor was the rise in fuel prices. The 4.8 percent increase, along with higher gas prices compared with this time last year, means that transit riders can now save approximately $762 more in commuting costs annually.
“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.
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.