by Bill McBride on 3/02/2011 11:55:00 AM
Wednesday, March 02, 2011
The Department of Transportation (DOT) reported that vehicle miles driven in December were up 0.6% compared to December 2009:
Travel on all roads and streets changed by +0.6% (1.4 billion vehicle miles) for December 2010 as compared with December 2009. Travel for the month is estimated to be 243.4 billion vehicle miles.Click on graph for larger image in graph gallery.
Cumulative Travel for 2010 changed by +0.7% (20.5 billion vehicle miles).
This graph shows the rolling 12 month total vehicle miles driven.
• Note: in the early '80s, miles driven (rolling 12 months) stayed below the previous peak for 39 months. Currently miles driven has been below the previous peak for 37 months - another record that will be broken soon.
• For the year (2010), this was the most vehicle miles traveled since 2007 and the third-highest ever behind both 2006 and 2007.
• In December U.S. oil prices averaged just under $90 per barrel, and we might see $100 oil lead to a decrease in driving in March or April.
Posted by Bill McBride on 3/02/2011 11:55:00 AM