Spending more on gasoline than on food?
By David on Jun 2, 2008 in Featured, USA
Recent surveys show average lower to middle income American families spend about 10-12% of their disposable income on food …. and spend about the same 9-13% on gasoline.
Have transportation costs ever been a higher percentage of the American family budget? An April 2008 survey by Kaiser Family Foundation found that 44% of American respondents said they are having problems paying for fuel.
And what happens if the cost of gasoline rises to 20% of the family budget? Do you give up your home, your car insurance, your medical insurance, your food, your child’s college education … for gasoline?
In 2001, a U.S. Energy Information Administration study showed about 5% of the budget of an average American family’s budget was spent on gasoline.
According to statistics from the Center for American Progress Action Fund:
Families with incomes less than $10,000 spend about 13% ($1,292) on gasoline.
Families with incomes of $10,000 - $15,000 spend about 9 - 13% of their income on gasoline.
Families with incomes of $50,000 - $75,000 spend about 5% of their income on gasoline.
Most studies show food costs have gone up 4 to 7% in the last year, while gasoline costs have gone up 20% or more in the last year.
The U.S. Bureau of Labor Statistics says the April 2008 price of gasoline was up 20.9% compared to the same time last year.


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