Auto Insurance Rate, Gas among Drivers' Main Expenses

While drivers tend to pay close attention to what their auto insurance rate is, far fewer are likely to be aware of what they pay for gasoline in any given year.

A recent report from the Natural Resources Defense Council offered drivers some insight into how much they may be paying annually for gas based on the state they live in. For example, Mississippi residents were said to spend the largest portion of their income on gas at 9.14 percent, equivalent to an average of $2,702 each year.

Oklahoma residents actually ranked fourth in the nation in gas expenses as a percentage of their income at 7.50 percent, but they still paid the largest average amount at $2,766.65.

Other states where residents pay a significant amount of their income in gasoline included Montana, which was second in the nation, South Carolina, which was third, and Louisiana, which was fifth.

Residents of the Northeast tended to spend the least amount of their yearly incomes on gasoline, with Connecticut ranked number 50. Residents in that state pay 3.24 percent of their income each year, or about $1,824.58, with New York, Massachusetts, Maryland and New Hampshire rounding out the five least-costly states for gasoline expenses.

It may be easier for drivers to keep track of their auto insurance rate, but this is just the beginning when it comes to calculating the annual costs of staying on the road.

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