CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts
Complete Coverage Special Report Energy Fix

U.S. driving on the decline

Americans continue to avoid the open roads, even as gas prices continue to fall, says the Department of Transportation.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Aaron Smith, CNNMoney.com staff writer

What impact would a General Motors bankruptcy have on the nation?
  • It would devastate the economy
  • It would be difficult, but a recovery would come
  • It would have no impact

NEW YORK (CNNMoney.com) -- Driving in America has undergone its most dramatic continuous decline in history, the Department of Transportation said Friday.

Americans drove 100 billion fewer miles during the 12-month period between November 2007 and October 2008 compared with the prior year, according to the DOT's most recent data.

U.S. Transportation Secretary Mary Peters noted that driving continued to decline even as gas prices came off their summertime peaks.

"The fact that the trend persists even as gas prices are dropping confirms that America's travel habits are fundamentally changing," she said in a statement.

The nationwide average price for unleaded gas was $1.656 per gallon on Friday, according to the motorist group AAA. Gas prices hit a peak of $4.114 a gallon on July 17.

In October, driving volume posted its steepest monthly drop since 1971, according to the DOT. Americans drove 3.5% less, or 8.9 billion fewer miles, compared with October 2007.

Transportation officials said they were concerned the drop would sap funding for the nation's highway system.

"As driving decreases and vehicle fuel efficiency continues to improve, the long term viability of the Highway Trust Fund grows weaker," said Peters. "The way we finance America's transportation network must also change to address this new reality, because banking on the gas tax is no longer a sustainable option."

Federal Highway administrator Tom Madison said in a statement, "This underscores the need to change our policy so American infrastructure is less dependent on the amount of gas American drivers consume."

The study follows a Monday report from the American Public Transportation Association that said Americans turned to public transportation in the third quarter at their biggest jump in 25 years as gas prices hit record levels.

More than 2.8 billion trips were taken on public transportation nationwide from July to September, an increase of 6.5% compared with the same period last year, according to the APTA.  To top of page

Features
  • 091020_nuclear_0154.04.jpg
    Minimum wage to $20 an hour. That's what Sally Delk hopes for with a job at the nuclear power plant.  More
  • charlotte_then_now.gi.04.jpg
    Charlotte Street was the epicenter of urban blight. No longer. Now Bimmers and boats fill driveways. More
  • excon-pic-2.04.jpg
    Ex-convicts like Gregory Headley are 'at the back of the line' in the struggle to find work.  More
  • package.gi.04.jpg
    Steve Jobs revived Apple, defying the worst economic conditions since the Great Depression. More
  • droid.04.jpg
    Consumers looking to buy electronics for holiday gifts won't have to break the bank this season. More
  • airport_luggage.ju.04.jpg
    Search firm says it will pay the bill for wireless Internet during the holidays. More
  • twitter_screenshot.04.jpg
    Twitter and LinkedIn hook up, signing agreement to let users share information across both platforms. More
Markets Last Change
Dow Jones 10,270.47 73.00 / 0.71%
Nasdaq 2,167.88 18.86 / 0.88%
S&P 500 1,093.48 6.24 / 0.57%
10-year Bond 99 19/32 Yield: 3.42%
U.S.Dollar 1 euro = $1.492 0.007
November 13, 2009 4:01 PM ET
CompanyPrice% Change
YRC Worldwide Inc 1.12 22.53%
Blockbuster Inc 0.76 -8.46%
Dollar General Corp 22.64 7.81%
JC Penney Co Inc 31.34 6.63%
Nov 13 3:53pm ET †
More Galleries
America's Money: In their own words Across the nation, the deepening economic downturn is fueling anxiety among everyday folks. See what's got them worried and how they're coping. More
Pieces of Madoff Many of Bernie Madoff's victims wanted a piece of the felonious financier. This week they could get one: Hundreds of his and Ruth's possessions went up for auction Saturday and they fetched nearly $1 million, a lot more than expected. More
6 double dip warning signs The recovery from the Great Recession has likely started. But many economists are worried about falling into another downturn. Here's what has them concerned. More
Sponsors

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.