Wednesday, March 02, 2011

DOT: Vehicle Miles Driven increased in December

by Bill McBride on 3/02/2011 11:55:00 AM

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.

Cumulative Travel for 2010 changed by +0.7% (20.5 billion vehicle miles).
Vehicle MilesClick on graph for larger image in graph gallery.

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.

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