As the bruised and battered US consumer continues to be fornicated at the pump, there is, we are told, an amazing silver lining to this inflationary catastrophe: according to the American Public Transportation Association, as gas prices spike they bring with them the savings for U.S. commuters who rely on public transportation, a transit group said on Friday. See: and now the surge in price has been spun. Soon, when gas is $5 then $10/gallon, the administration will tell us how we are all saving so much money by using the subway... Of course until such time as the already insolvent MTA (and other regional transportation authorities) are "forced" to hike prices due to retaining those workers which even Wal Mart decided to pass on.
U.S. gas prices have increased 28 cents a gallon in the last 10 days to $3.47 per gallon. Individuals who travel by bus or commuter rail instead of filling up their tanks at that price would save $825 per month on average, the American Public Transportation Association said.
The group included the national average of $161.56 for an unreserved parking space in a downtown business district in its calculations.
Political uncertainty in oil-producing Libya is pushing up oil prices, and that in turn is forcing many Americans to pay more at the pump.
If prices remain high, individuals would save an average $9,904 each year, APTA said, adding that "this is the highest savings for public transit riders in two years."
And the kicker from the APTA:
APTA said a commuter who relies on public transportation in New York City has the most savings over a driver -- $14,376 a year -- followed by those in Boston, San Francisco, Chicago and Seattle.
Next up: the administration touts the benefits of death. Just consider the amazing savings one will have by not having to spend tens of thousands of dollars on that barbarous relic, food.