The average U.S. household expenditure on gasoline in 2017 is expected to total $1,977, or approximately 2.4 percent of mean incomes of households, according to a recently released report from the U.S. Energy Information Administration (EIA).
The report also said the most recent peak for household gasoline expenditures was $2,715, approximately
4 percent of household income, in 2008. In recent years, 2015 and 2016 specifically, expenditures were near or below $2,000, or 2.5 percent of total household income.
Fluctuations in expenditures over the past decade were a result of changes in gasoline prices and consumption habits, according to the report.
Increases in vehicle travel and gasoline consumption were largely due to declines in gasoline prices since 2012. Recent EIA short term energy outlook (STEO) projections indicated that continued low gasoline prices were expected to lead to record-high gasoline consumption of 9.3 million barrels per day for 2017.
Lower gasoline prices also contributed to decreasing household gasoline expenditures since 2012 as gasoline consumption increased. STEO estimated that gasoline prices will average $2.48 per gallon in 2017, which is 33 percent lower than 2012 prices.
Central Maine Power Co. (CMP) has exceeded performance standards set by the Maine Public Utilities Commission (PUC), according to its…
PSEG Long Island received an award recently for innovation in digital engagement. The CS Week Expanding Excellence Award for Innovation…
For the second month running, Florida Power & Light Company (FPL) will reduce customer rates, thanks to approved cuts to…
A new study by National Grid and RMI seeks to better understand how integrated energy planning (IEP) and non-pipeline alternatives…
Valley Forge, Pa.-based PJM Interconnection said Thursday it anticipates having enough resources to meet electricity demand for what weather forecasters…
Mon Energy of West Virginia will begin award negotiations with the United States Department of Energy (DOE) in coming days…
This website uses cookies.