As gas prices creep higher in the Philadelphia area, switching from driving to riding DART public transportation can save individuals on average more than $11, 500 a year. End expensive trips to the pump, and add to your savings by switching to DART public transit as gas prices have inched up consistently over the last two weeks. According to the July Transit Savings Report by the American Public Transportation Association (APTA, individuals who ride public transportation in the Philadelphia area instead of driving can save, on average, $966 this month, and $11,594 annually. These savings are based on the cost of commuting by public transportation compared to the cost of owning and driving a vehicle which includes the July 24, 2012 average national gas price ($3.48 per gallon- reported by AAA) and the national unreserved monthly parking rate.
APTA releases this monthly Transit Savings Report to examine how an individual in a two-person household can save money by taking public transportation and living with one less car.
The national average for a monthly unreserved parking space in a downtown business district is $155.22, according to the 2011 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,863.
APTA calculates the average cost of taking public transit by determining the average monthly transit pass of local public transit agencies across the country. This information is based on the annual APTA fare collection survey and is weighted based on ridership (unlinked passenger trips). The assumption is that a person making a switch to public transportation would likely purchase an unlimited pass on the local transit agency, typically available on a monthly basis.
APTA then compares the average monthly transit fare to the average cost of driving. The cost of driving is calculated using the 2012 AAA average cost of driving formula. AAA cost of driving formula is based on variable costs and fixed costs. The variable costs include the cost of gas, maintenance and tires. The fixed costs include insurance, license registration, depreciation and finance charges. The comparison also uses the average mileage of a mid-size auto at 23.1 miles per gallon and the price for self-serve regular unleaded gasoline as recorded by AAA on July 24, 2012 at $3.48 per gallon. The analysis also assumes that a person will drive an average of 15,000 miles per year. The savings assume a person in two-person household lives with one less car.
In determining the cost of parking, APTA uses the data from the 2011 Colliers International Parking Rate Study for monthly unreserved parking rates for the United States.
To calculate your individual savings with or without car ownership, go to www.publictransportation.org.