As gasoline prices rise, public transportation agencies are urging people to give transit a try on this year’s Dump the Pump Day on June 21.
The American Public Transportation Association’s (APTA) calculated the price of driving in its June Transit Savings Report. APTA used the average cost per gallon of gasoline and unreserved monthly parking rates to determine the cost of owning and driving a vehicle for a daily commute.
Gasoline averaged $2.94 a gallon nationwide June 6, according to AAA, and the average monthly unreserved parking space in a downtown business district is $166.26, according to a Colliers International parking rate study.
A commuter who switches to public transit saves an average of $10,160 annually, according to the report. This is the highest savings for 2018. People who drop their car entirely save an average of $847 monthly.
The savings for parking averaged $1,995.
Of the top 20 cities, New York City had the highest savings, $14,969 annually.
The savings are based on the commuter purchasing an unlimited pass, and a two-person household eliminating one vehicle.
The savings also are based on the assumption that a commuter drives an average of 15,000 miles annually in a mid-size vehicle with a fuel economy of 23.1 miles per gallon.