by Calculated Risk on 6/21/2022 08:30:00 AM
This will be something to watch with higher gasoline prices.
The Department of Transportation (DOT) reported:
The seasonally adjusted vehicle miles traveled for April 2022 is 270.7 billion miles, a 2.50% ( 6.6 billion vehicle miles) change over April 2021. It also represents a -0.9% change (-2.4 billion vehicle miles) compared with March 2022.
Cumulative Travel for 2022 changed by +4.5% (+44.0 billion vehicle miles). The cumulative estimate for the year is 1,016.7 billion vehicle miles of travel.
This graph shows the monthly total vehicle miles driven, seasonally adjusted.
Miles driven declined sharply in March 2020, and really collapsed in April 2020. After recovering, miles driven might be starting to soften due to high gasoline prices.