Study examines annual gasoline costs

14-Aug-2009

The average American spends around $2,000 per year on gasoline, according to a recent study.

Information from the Natural Resources Defense Council ranks the 50 states based on the amount spent on gasoline each year, as well as the average percentage of income that this figure represents.

For example, Mississippi residents were said to lead the rest of the U.S., with an average of $2,702 spent on gasoline by each resident, or 9.14 percent of the average income. The next two states were Montana and South Carolina.

For the actual amount spent on gasoline each year, Oklahoma led the way with $2,766.65.

The states where residents spend the lowest amounts for gasoline included Connecticut, New York and Massachusetts. Connecticut, which was ranked fiftieth in the report, had its residents paying 3.24 percent of their income. However, New York residents spend the least amount on average for gasoline in any given year, $1,654.17.

Americans may be spending slightly more on gasoline in recent weeks considering the upward trend in prices. A report by CNNMoney.com quotes a spokesman for the American Automobile Association as saying that gasoline prices are likely to fluctuate between $2.55 and $2.70 a gallon in the foreseeable future.

Breaking news brought to you by the Oxford Princeton Programme, specialists in energy courses. This and other related topics are part of the forthcoming course Fundamentals of Petroleum Refining - A Non-Technical Introduction from 16-17 September, 2009 in Houston.