March Traffic Volume Highest Increase Since 2006
According to data released today by the Department of Transportation, travel on all U.S. roads and streets increased by +2.33% (5.8 billion vehicle miles) in March 2010 compared to March last year. That increase is the largest monthly gain since a 3.8% increase in January 2006, more than four years ago. And the March increase in travel happened during a month with gas prices rising to 18-month highs, and with prices at the pump about $1 per gallon higher than March 2009, so it will be interesting to see if the increased traffic volume continues through the summer now that gas prices are falling and the economy is expanding.
As I reported recently, truck tonnage jumped 7.5% in March, which was the largest year-to-year monthly increase since January 2005. America's moving again.