Gas prices gobble up 9 percent of income

May 5, 2011 6:26:47 PM PDT
We all feel the pinch of high gasoline prices, but exactly how big is that toll? A new study says on average, gas is gobbling up 9 percent of our incomes.

That's nearly double the bite it took from our paychecks last year. Americans spent an average of $368 per household for gasoline during the month of April.

On average, we'll pump $4,300 worth of gasoline per household this year-- a record high.