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Rail News: Rail Industry Trends
9/5/2008
Rail News: Rail Industry Trends
APTA: Public transit can save commuters more than $9,000 annually
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Gas prices might have declined slightly in the past month, but commuters still can save a lot of money by taking public transit instead of driving.
Transit modes can save a commuter an average of $9,596 annually based on the AAA's average gas price of $3.68, according to the American Public Transportation Association's (APTA) monthly "Transit Savings Report."
The latest cost analysis also included parking expenses. On average, the monthly unreserved parking rate in a city's downtown business district is about $143, according to the 2008 Colliers International Parking Rate Study.
To calculate monthly savings, APTA determines the cost of the average monthly transit pass, then compares the fare to the average cost of driving based on the 2008 AAA driving cost formula, which takes into account gas, maintenance, tires, insurance and license registration expenses, as well as depreciation and finance charges. The analysis also assumes that a commuter will drive an average of 15,000 miles annually.
Transit modes can save a commuter an average of $9,596 annually based on the AAA's average gas price of $3.68, according to the American Public Transportation Association's (APTA) monthly "Transit Savings Report."
The latest cost analysis also included parking expenses. On average, the monthly unreserved parking rate in a city's downtown business district is about $143, according to the 2008 Colliers International Parking Rate Study.
To calculate monthly savings, APTA determines the cost of the average monthly transit pass, then compares the fare to the average cost of driving based on the 2008 AAA driving cost formula, which takes into account gas, maintenance, tires, insurance and license registration expenses, as well as depreciation and finance charges. The analysis also assumes that a commuter will drive an average of 15,000 miles annually.
