Photo: Flickr/Bob Doran
While we know that we waste much of our time in traffic, a new study from the Department of the Treasury has quantified it with some huge numbers.And believe us, it’s scary.
Last year, the Department of the Treasury says that Americans wasted 1.9 billion gallons of fuel while sitting in traffic. That’s nearly five per cent of all the fuel purchased by Americans.
Multiply that by $4 per gallon (which is where gas prices are heading), and nearly $8 billion worth of fuel was wasted last year.
And according to MSNBC, other studies have shown that Americans collectively lose 5 billion hours per year in traffic. That’s a lot of lost productivity. According to the Treasury, the total losses in fuel costs and productivity could be as high as $100 billion.
So people are stuck in traffic which keeps them out of work. If they are out of work, they make less money. And with gas prices rising, commuters will have less money to buy gas to commute.
It sounds like a vicious cycle.
The entire study can be read here.
Business Insider Emails & Alerts
Site highlights each day to your inbox.