Wednesday, March 23, 2011

DOT: Vehicle Miles Driven increased slightly in January

by Bill McBride on 3/23/2011 04:06:00 PM

The Department of Transportation (DOT) reported that vehicle miles driven in January were up 0.2% compared to January 2010:

Travel on all roads and streets changed by +0.2% (0.5 billion vehicle miles) for January 2011 as compared with January 2010. Travel for the month is estimated to be 223.5 billion vehicle miles.
Miles driven is barely up from last year, although the northeast was the weakest region in January, and driving in the northeast was probably impacted by the weather.

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 38 months - another record that will be broken in March!

• In January U.S. oil prices averaged $90 per barrel, and we might see $100 oil lead to a decrease in driving in March or April.