Even with lower gas prices, public transportation offers individuals a way to save hundreds of dollars each month. According to the American Public Transportation Association’s (APTA) December Transit Savings Report, individuals who ride public transportation instead of driving can save, on average, $807 this month and $9,690 annually.
These savings are based on the cost of commuting by public transportation compared to the Dec. 20, 2011, average national gas price ($3.21 per gallon- reported by AAA) and the national unreserved monthly parking rate.
Currently gas prices are $.15 a gallon less than last month, but still $.23 higher than this time last year, proving that riding public transit is a smart way to lower transportation costs.
APTA releases this monthly Transit Savings Report to examine 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 $155.22, according to the 2011 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,863.