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Fact #345: November 8, 2004
Vehicle Miles Traveled and the Price of Gasoline

The price of gasoline is one factor that can have an effect on the number of highway vehicle miles traveled (VMT). The graph below shows the percentage change of monthly data from one year to the next (i.e., January 2001 data were compared with January 2000 data). Gasoline prices in late 2001 and early 2002 were down from what they were one year before, and VMT was generally up during that period. In late 2003 and 2004, VMT growth dropped as gasoline prices rose. In spite of the large increase in the price of gasoline, the VMT change has not gone negative as it did in 2001 and in late 2002 and early 2003.

Supporting Information

Vehicle Travel and Gasoline Price

	Percent Change from Previous Year
	Average Unleaded Regular Gasoline Price	Total Monthly VMT
Jan-01	13.1%	2.8%
Feb-01	8.4%	0.3%
Mar-01	-6.1%	-0.5%
Apr-01	3.9%	1.6%
May-01	15.4%	0.7%
Jun-01	1.4%	-0.2%
Jul-01	-7.0%	1.5%
Aug-01	-5.5%	1.6%
Sep-01	-3.2%	-1.2%
Oct-01	-12.6%	1.5%
Nov-01	-18.8%	3.0%
Dec-01	-24.0%	4.4%
Jan-02	-22.6%	2.2%
Feb-02	-23.9%	3.3%
Mar-02	-14.2%	1.1%
Apr-02	-10.0%	1.5%
May-02	-17.8%	2.3%
Jun-02	-14.4%	1.6%
Jul-02	-4.7%	2.2%
Aug-02	-0.3%	1.8%
Sep-02	-7.1%	2.7%
Oct-02	6.4%	1.4%
Nov-02	14.6%	-0.5%
Dec-02	23.3%	1.4%
Jan-03	29.3%	0.9%
Feb-03	45.2%	-2.8%
Mar-03	40.9%	-0.2%
Apr-03	17.9%	0.5%
May-03	8.5%	0.2%
Jun-03	7.8%	1.5%
Jul-03	7.9%	2.1%
Aug-03	14.4%	0.4%
Sep-03	21.5%	1.3%
Oct-03	10.6%	3.3%
Nov-03	6.0%	0.9%
Dec-03	7.2%	1.5%
Jan-04	8.1%	0.5%
Feb-04	1.9%	3.6%
Mar-04	1.0%	4.5%
Apr-04	10.5%	3.3%
May-04	30.3%	0.1%
Jun-04	34.8%	0.3%
Source: VMT: U.S. Department of Transportation, Office of Highway Policy Information, Traffic Volume Trends, Table 1. Gasoline Price: Energy Information Administration, Monthly Energy Review, Table 9.2.

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