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Study: Average household spending $368 per month on gasPosted On Thu, May 12, 2011
The rising cost of gasoline is taking up a bigger chunk of homeowners' monthly expenses.
According to an exclusive analysis performed by the Oil Price Information Service for CNNMoney, the average monthly gasoline bill for U.S. household is $80 more than what it was in 2010 and nearly $200 more than two years ago.
The $368 Americans are plunking down for fuel at gas stations per month has the director of retail pricing at OPIS, Frank Rozell, saying what's on the minds of most Americans.
"Gas prices have just skyrocketed," said Rozell in an interview with CNNMoney.
The study also found that, on average, gas is taking up approximately 9 percent of homeowners' monthly income.
According to the gasoline price tracking website Gasbuddy.com, the nationwide average for a gallon of self-serve regular is $3.97.
Fuel costs have forced many people to change their driving habits, as auto manufacturers have found more people are buying smaller vehicles, which tend to get better mileage. Policyholders may be shopping around for cheaper auto insurance rates as well in order to save.
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