Study: Average American family to spend $3,100 on fuel this year

Study: Average American family to spend $3,100 on fuel this yearA new study has revealed that the average American family is spending $3,100 on gas, a sharp increase from the average expenditure tracked two years ago.

The Consumer Federation of America recently ran a study tracking driver's spendings at the gas pump. Extrapolated over the year, the average family is expected to spend more than $3,000. The same study ran in 2009 found that a family was only spending around $2,000, so the increase in prices at the pump has definitely been significant.

In addition, the survey of nearly 2,000 consumers also found that many were worried about the increased cost of fuel, with 85 percent saying they were concerned about gas prices. The group found that many consumers supported political initiatives such as reducing dependence on foreign oil and raising fuel economy standards.

With times tight for many families, it might not be possible to pay cash for a vehicle right now. At the same time, the high gas prices may make it necessary to switch to a high-MPG vehicle. Those who are considering a purchase should apply online for bad credit auto loans to help make their new car a reality.