Monday, December 08, 2008

Report: Giving up car for public transit could save $11,000 a year

The Philadelphia Business Journal reported that commuters in Philadelphia can save more than $11,000 annually by taking public transportation instead of driving when gasoline prices and parking rates are factored in.

Philadelphia ranked fifth of the top 20 cities with the highest public transportation ridership for its transit savings according to the Transit Savings Report, a monthly analysis by the American Public Transportation Association. New York was first.

These numbers will go down as the price of gas continues to fall. With an Amtrak monthly pass over $1,000/month the math here for Philly-NYC commuters doesn't quite add up to much, if any savings. Nonetheless, there is a real financial benefit to commuting that commuters should understand. I did that analysis a couple years ago and found commuting from Philly to NYC was a viable option for me.


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