Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Your monthly gasoline bill: $368

gas prices, income, spendingClick the chart to see how your state shapes up By Ben Rooney, staff reporter


NEW YORK (CNNMoney) -- Round-trip airfare from New York to Los Angeles. More than a dozen dinners for two at Applebee's. Two 16 GB iPod nanos.

These are just a few of the things you could have bought if you weren't spending $368.09 a month on gasoline.

Gasoline prices and taxes by state
Prices at the pump can vary widely among states due to a number of factors. More

That's the average amount American households spent on gas in April, according to an exclusive analysis of data by the Oil Price Information Service for CNNMoney.

The study, which compared average gas prices with median incomes nationwide, also showed that U.S. households spent nearly 9% of their total income on gas last month.

That's more than double what the average American family spent just two years ago, when gas prices were hovering around $2.05 a gallon.

"Gas prices have just skyrocketed," said Fred Rozell, director of retail pricing at OPIS.

After surging nearly 30% this year, the national average price for regular gasoline is less than 2 cents away from $4 a gallon. That's still below the all-time high of $4.114, but prices in many parts of the country have already risen to new records well above that level.

For drivers in some states, the pinch of high gas prices is particularly painful.

Mississippi tops the list, with the average household spening over 14% of their total income on gas last month.

While gas in the state is relatively cheap, Mississippians have some of the lowest incomes in the nation, with the median household earning $36,646 a year.

In addition, many drivers in Mississippi commute long distances and have older cars that lack fuel efficiency, said Rozell.

At an average price of $3.64 a gallon, households in Mississippi spent $434.52 on gas in April.

In New York, where a large chunk of the population lives in urban areas with mass transit, households spent only 5.5% of their income on gas. That's despite an average gas price of $3.99 a gallon in April.

The only other region where drivers spend less income on gas is Washington D.C., where the average household spent just $89 on gas in April, or about 2% of total income. To top of page

Index Last Change % Change
Dow 20,894.83 89.99 0.43%
Nasdaq 6,133.62 49.92 0.82%
S&P 500 2,394.02 12.29 0.52%
Treasuries 2.25 0.01 0.40%
Data as of 11:36pm ET
Company Price Change % Change
Advanced Micro Devic... 11.04 -0.37 -3.24%
Bank of America Corp... 23.04 -0.01 -0.04%
Ford Motor Co 11.10 0.23 2.12%
Cisco Systems Inc 31.59 0.38 1.22%
General Electric Co 28.18 0.13 0.46%
Data as of 4:15pm ET
Sponsors

Sections

Why Ford fired its CEO: Shares tumbled amid doubts in about unprecedented changes and new competitors ahead. More

President Trump's first full budget proposal lays out $4.1 trillion in spending for 2018 but reallocates where federal funds are spent. The White House estimates his budget would reduce spending over the next decade by $3.6 trillion. More

Millions of newborn piglets are accidentally crushed every year under their mother. SmartGuard is a tech device designed to save piglets' lives. More

A 401(k) plan is the go-to retirement savings account for most workers. But if you're employed at a company that doesn't offer a 401(k) or any other retirement plan, don't worry. There are other options. More