Passenger Bus, Rail and Motorcoach Industry News

A 10% increase in gas prices over several years will increase bus ridership by 3.4% while a sudden 10% spike in gas prices is associated with a 1.15% increase in bus ridership in Indiana.

Groups released a study predicting that record numbers of Americans will turn to public transportation as a cost-cutting measure in the face of volatile gas prices. To meet this impending surge in demand, they are calling on Congress to pass a multi-year, fully funded surface transportation bill.

With an increase of 2.3% over the 2010 ridership, this was the sixth year in a row that more than 10 billion trips were taken on public transportation systems nationwide.

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. 21, 2012 average national gas price and the national unreserved monthly parking rate.

Set a record over its 47-year history, up from 1.34 million trips in 2008 on an average weekday. The agency attributed the increase to higher gas prices and employment numbers.

Provided more than 17 million rides in 2010 and is on pace to provide over 18 million rides in 2011. On an average weekday last week, COTA provided over 62,000 rides, which was 15.8 percent higher than in 2010. It was also the 15th consecutive week of increased ridership this year.

Report numbers show a substantial increase over this time last year, as gas prices have risen nearly $.86 a gallon.

Despite high gas prices and a slow economy Americans who ride public transportation save, on average, $9,968 annually and $831 per month, based on the July 14, 2011 average national gas price of $3.66 per gallon.

The latest “Transit Savings Report” shows that, since gas prices have risen more than 30 cents a gallon in each of the last two months and nearly 80 cents since the beginning of the year, transit riders are able to reap the largest amount of savings in nearly three years.

President William A. Millar said that the funding reductions made to public transportation and high-speed rail are troublesome, since these investments are catalysts to create jobs, and untimely, due to the recent sharp rise in gas prices.