More than 8% of income spent on gas

Today's news is filled with reports of gas prices falling, just in time for the holidays. The national average price is $3.213 per gallon -- compared with $3.359 a month ago and $2.981 on the same day last year, according to the AAA Fuel Gauge Report.

But don't celebrate just yet. Americans have spent more money at the gas pump this year than ever before. In fact, when all of the year's holiday travel is completed, the average American household will have spent a record $4,155 on gasoline, according to the Oil Price Information Service. Post continues below.

With the country sliding into recession and the Middle East in turmoil in 1981, American families spent an average 8.8% of their budget filling their gas tanks. Over the past decade, the average has been 5.7%, AP said.

Though prices were higher in 2008, total spending that year was lower -- just $448 billion. That's because this year's prices stayed elevated for a longer period of time, unlike in 2008, when prices collapsed in the fourth quarter, according to ConsumerAffairs.com.

And though we're trying harder than ever to use less gas -- driving more fuel-efficient cars and carpooling, among other things -- slow economic growth, high unemployment and stalled incomes mean a higher portion of family budgets is being spent on gas.

If you're like me, you're probably thinking about what else you could have done with $4,155 this year. A vacation, perhaps. It also could have made a dent in the cost of an electric or hybrid car, which start at about $30,000.

What are you doing to save money on gas? Do you think you can save more next year?

More on MSN Money:

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• 9 everyday items that cost more than gasoline
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