With gas prices now 33 cents higher than February, individuals who ride public transportation instead of driving can save, on average, more than $848 this month and $10,174 annually, according to the American Public Transportation Association’s (APTA) April Transit Savings Report.
Additionally, President Obama recently released his budget for Fiscal Year 2015 and on page 13 of the U.S. Department of Transportation’s budget executive summary, he recognizes how the Federal Transit Administration and public transportation benefit America. He specifically notes the substantial savings one can achieve by riding public transportation.
The savings are based on the cost of commuting by public transportation compared to the cost of owning and driving a vehicle, which includes the April 15, 2014 average national gas price of $3.64 per gallon and the national unreserved monthly parking rate.
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.