DOT: Vehicle Miles Driven Decreased year-over-year in June
Bill McBride at Calculated Risk (8/23/2022 02:21:00 PM) had this report on mileage driven for June 2022. I am sure as Bill suggests gasoline prices may have played a role in the decrease. I wonder too if Covid kept people from travelling too? One of the links to the DOT page also shows travel by segments of the country. The West showing a far greater (5X) decrease than the Northeast.
Calculated Risk: DOT: “Vehicle Miles Driven Decreased year-over-year in June” (calculatedriskblog.com), Bill McBride
Bill: This is something to watch with higher gasoline prices.
The Department of Transportation (DOT) reported:
Travel on all roads and streets changed by -1.7% (-4.8 billion vehicle miles) for June 2022 as compared with June 2021. Travel for the month is estimated to be 282.1 billion vehicle miles.
The seasonally adjusted vehicle miles traveled for June 2022 is 268.0 billion miles, a -1.80% ( -4.8 billion vehicle miles) change over June 2021. It also represents a -1.0% change (-2.7 billion vehicle miles) compared with May 2022.
Cumulative Travel for 2022 changed by +2.8% (+43.2 billion vehicle miles). The cumulative estimate for the year is 1,587.1 billion vehicle miles of travel.
Click on graph for larger image.
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 have softened due to higher gasoline prices.
“Traffic Volume Trends June 2022” – Policy | Federal Highway Administration (dot.gov)