Public transportation costs remain stable in face of rising gas prices

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A report from the American Public Transportation Association (APTA) recently found that, despite a sizeable jump in gas prices for September against the same period last year, public transportation costs have remained flat.

In that regard, their September Transit Savings Report found that the average annual savings for someone who switched to public transportation over their own vehicle was saving around $9,946 a year–or more than $829 per month. The national average gas price currently sits at $2.61 per gallon, according to AAA, which puts the cost at approximately 40 cents more than it was last year.

As part of its study, the APTA laid out a ranking system of the top 20 cities in the country for average public transit savings. New York City won the gold in that regard, with its public transit savvy citizens saving around $1,233 per month and $14,800 per year. San Francisco was not far behind. Such big savings are put into perspective, though, when one considers the 2012 Colliers International Parking Rate Study, which determined that parking costs for a vehicle could amount to an average of $1,995 per year.

For its own figures, the APTA calculated the average cost of public transit by fare collections and weighted them based on ridership. They then compared the average monthly transit fare to the average costs of driving, which was determined by a AAA formula of variable and fixed costs such as gas, maintenance, and insurance, with average gas prices factored in as well.