Americans spend 4% of household income on gasoline

A gasoline pump rests in the tank of a car on June 12, 2012 in San Anselmo, Calif.

This final note today, which comes with the observation that the price of a barrel of crude oil has been rising for two straight months. The Energy Department said today the average American household now spends $2,900 a year on gas. That's just under 4 percent of household income, which is, in turn, the most we've spent on gas in 30 years.

It's all about the costs of efficiency, really. Even though our cars get more miles per gallon, we're driving more.

Oh, and gas is expensive.

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.


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