NFCU: Gas Prices Drive Car Ownership Costs at Record High


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Car ownership costs are being driven to record highs 
by surging gasoline prices that are outpacing wage growth, the Navy Federal 
Credit Union (NFCU) reported Monday (4/13).

   The NFCU's cost of car ownership index rose 4.7% in March alone as gasoline 
prices climbed 21.2% month over month, the union's data showed.

   The index has surged 47.6% since January 2020, while wages increased only 
31.5% in that span.

   The U.S. Energy Information Administration reported the national average for 
gasoline at $4.12 gallon last week, up $1.31 or 47% on the year.




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