Individuals who ride public transportation instead of driving can save, on average, more than $826 this month, and $9,917 annually, according to the American Public Transportation Association’s (APTA) February Transit Savings Report.
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 Feb. 12, 2013 average national gas price of $3.60 per gallon and the national unreserved monthly parking rate.
“The quickest way to avoid rising gas prices is to include commuting by public transit into your daily routine,” said APTA President/CEO Michael Melaniphy. “Riding public transportation translates to large savings to the family budget.”
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 $166.26, according to the 2012 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,995.