Americans Haven't Spent This Much Of Their Paycheck On Gas In 30 Years

[FarCenter]

Paid over $4.00 a gallon this weekend. This high this early in the year brings the gas price back on the macro radar screen.

The EIA notes,

Gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just under 4% of income before taxes, according to EIA estimates. This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount.

http://www.businessinsider.com/gas-expenditures-as--income-at-30-year-high-2013-2

[Warpy]

1. I can see that at the bus stops around here. They're packed.

They haven't been this packed since spring in 2008, just before the bottom dropped out of commodities by institutions dumping futures because they realized just how many toxic assets were on the books. It was a mad scramble for cash.

[demosincebirth]

2. As long as gas prices are high our economic recovery will remain as it is...neglegible.

Thank you oil companies!

[GObamaGO]

3. This is the fourth period of time since 2007 that gas has been over $4 a gallon

here in California.

[RKP5637]

4. I don't need a gas gauge in my car anymore, I need a dollar gauge! n/t