Families spending $168 more per month on gas than a year ago
May 28th, 2011 | Author: Posted by Ben Hart
ASSOCIATED PRESS: There’s less money this summer for hotel rooms, surfboards and bathing suits. It’s all going into the gas tank.
High prices at the pump are putting a squeeze on the family budget as the traditional summer driving season begins. For every $10 the typical household earns before taxes, almost a full dollar now goes toward gas, a 40 percent bigger bite than normal.
Households spent an average of $369 on gas last month. In April 2009, they spent just $201. Families now spend more filling up than they spend on cars, clothes or recreation. Last year, they spent less on gasoline than each of those things.
Posted in Economic Collapse, Economy, Obamanomics, Oil, Oil - Energy | Tags: gas prices, gasoline prices
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