DENVER (KDVR) — Gas prices add to the sting of Denver’s already-expensive cost of living, but they are far from the only factor.
All told, major household expenditures for a single person have risen roughly $360 in a year, according to estimates.
The national average for regular gasoline is $5.02 per gallon, according to AAA. In Colorado, the average is slightly lower at $4.89 per gallon.
The EPA estimates drivers get about 25.7 miles per gallon. The U.S. Department of Transportation estimates about 1,200 miles driven per month. A year ago, monthly gasoline costs amounted to about $150. At current prices, monthly gasoline costs run about $230, or $80 more.
In the 30,000-foot view, $5 dollar gasoline is a small bump compared to the inflationary effects on necessities such as housing and groceries.
Grocery bills are difficult to narrow, as household spending will vary wildly. Consumer Price Index information says food at home has risen 11.9% in the last year. A household spending $400 on groceries last summer would spend just under $450 now.
Housing costs are a household’s largest expense, and in Denver they exceed the national average by a fair margin. A Denver one-bedroom apartment costs $2,250 a month, according to the most recent report from Rent.com.
The report said rent in Denver has risen 8.63% in the last year, or about $200 per month.