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.
Three reports released this week show the detrimental effects traffic congestion, long commutes and even our roadways have on our health, safety and wallets. The results seem to underscore the need for more public transit, but will they have any impact?
The release this week of a Brookings Institution report, which reviewed metropolitan transit systems across the U.S., was widely reported, with many newspapers noting their city’s rank. With House Republicans discussed cutting public transit funding even further in 2012; ridership rising due to gas price spikes; and Congress debating taking tax breaks for oil companies off the table, the timing was interesting.
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.
In a study released earlier this week, the American Public Transportation Association (APTA) predicted that public transportation ridership would grow to record numbers as gasoline prices continue to spike.
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