With gas prices spiking, transit riders could save up to $14,376 a year (some, anyway)

With gasoline prices soaring, commuters who rely upon public transportation can now save even more cash than before, according to the American Public Transportation Association (APTA). On March 8th, U.S. gas prices hit an average of $3.50 a gallon, but individuals who travel by bus or commuter rail don't need to worry about filling up their tanks.

The APTA calculates that, on average, individuals using public transportation save $825 per month over commuters who drive a personal vehicle. Of course, this savings is not attributed to the cost of fuel alone. APTA's estimate includes all the costs associated with vehicle ownership – i.e. insurance, maintenance and wear and tear of the vehicle – and $161.56 a month for parking in a downtown business district. All of these costs don't affect everyone, but they do put the cost of car ownership into perspective. At any rate, the APTA claims that transit riders would save an average of $9,904 a year if gas prices remain at the current rate. Even better, commuters in New York City could save a whopping $14,376 a year by ditching their car and heading down to the subway.

[Source: Ward's Auto – sub. req. | Image: ReneS – C.C. License 2.0]

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