If you’ve been feeling the pinch as the gas pump in 2012 then you’re not alone, with the average price of gas going up all across the country, according to the U.S. Energy Information Administration. In 2012, the average American family paid $2,912 for gasoline, which makes up almost four percent of the average household annual income.
The US Energy Information Administration noted that this is the highest percentage of an American family household spent on gasoline in 30 years, with the exception coming in 2008. What makes this new report odd is that the gas consumption in the U.S. went down to the lowest level in has been in since 2001. The sharp spike in gas prices is what’s taking away money from your paychecks, 26.1 percent alone in 2011 and another 3.3 percent in 2012.
At 3.3 percent, last year’s increase on the price of fuel was higher than the average US increase in household income, which came it at 2.9 percent.