We Americans sure do love the freedom of owning our own automobile, but the price of that freedom is climbing. AAA has released its 62nd annual “Your Driving Costs” study, which shows a 1.9-percent year-over-year increase in the cost of auto ownership. That’s an average of $8,946 per year per car, with costs including monthly payment, fuel, maintenance and insurance.
Given the sharp rise in the cost of a gallon of petrol, it’s no surprise that prices at the pump are up 14.8 percent, or an average of 14.2 cents per mile. Tire prices are up 4.2 percent, in part because material prices have skyrocketed. The average insurance policy jumped by $33 versus 2010 numbers, with an average rate of $1,001 per year.
Full story: Autoblog
