Average Household Now Spends $5,000 A Year On Gasoline

Want to really see how soaring gas prices are affecting your bank account?  Look at the average you’ll spend on gas over the course of a year.

According to a report from Yardeni Research, the typical U.S. household is now spending about $5,000 a year on gas.  That’s up from $2,800 one year ago.

Researchers say the spike in gas prices is causing more Americans to rely on credit cards to fill up the tank.

Gasoline reached a record high of $4.59 in the U.S. this week.