US: 2014 driving totaled more than 3 trillion miles image

It seems that good things come in threes, not in pairs in America. Last year the country’s economy brought 3.1 million new jobs, gasoline dived below $3 per gallon and thus driving totaled more than 3 trillion miles for the first time since 2007.

With the positive signs 2015 has already gathered, the latter result is poised to leek even higher this year, thanks mainly to the 33 percent slide that pump prices have seen. Combined with the better job market, national spending reached new heights and buyers rushed to spend their cash on sport utility vehicles, vacations and holiday presents. According to transportation experts, travel (including road travel) is expected to further increase by 2 percent in 2015, the largest growth seen in more than a decade. “A growing economy can increase driving as more people head to work,” also commented a spokesperson for the Heathrow, Florida-based automobile club AAA.

Last year, the US average retail price for regular gasoline went below the $3 a gallon mark in October for the first time in about four years and they continued to dive even further, finishing the year at $2.24. Now they have leveled a bit, with a March 22 figure of $2.424. Alan Pisarski, a transportation analyst forecasts road travel passing 2007’s record of 3.03 trillion miles, and according to the Energy Information Administration’s prediction this month overall 2015 gasoline consumption will surge 0.9 percent to 9 million barrels a day. The EIA contends the lower gasoline prices will also bring average household spending to $1,802 for gasoline, a good $710 less than in 2014.

Via Bloomberg