Falling Fuel

US households spent slightly less than $2,000 on gasoline in 2016, the lowest inflation-adjusted amount since 2003. The lowest amount spent on gasoline since 1980 was $1,500 in 1998, while the highest was about $3,300 in 1980 and 2012. However, as a percent of before-tax household income, gasoline spending was 5% in 1980, 4% in 2012, and just 2.2% in 2016, all due to slowly rising incomes.