Summary
A study examined how much income Americans across different states spend on gas. Factors like income levels, gas prices, and how much people drive contributed to these differences. Despite lower gas prices recently, spending varies widely, with Mississippi residents spending the highest portion of their income and Washington D.C. residents spending the least.
Key Facts
- Americans spend between 0.8% to 3.7% of their income on gas, varying by state.
- Mississippi drivers spend 3.7% of their income on gas, the highest in the U.S.
- Washington D.C. drivers spend only 0.8% of their income on gas, the lowest in the U.S.
- Median monthly incomes, gas prices, and average miles driven influence gas spending.
- In Mississippi, low income and high mileage contribute to higher gas spending despite cheap gas prices.
- Gas prices have been decreasing but remain higher than pre-COVID levels.
- The U.S. Energy Information Administration forecasts a potential further decline in gas spending as a percentage of income.
