Timothy Noah, writing for Slate back in 2000:
When you factor out the amount of time spent thinking through complex and unfamiliar concepts—a rarity when people read for pleasure—reading is an appallingly mechanical process. You look at a word or several words. This is called a “fixation,” and it takes about .25 seconds on average. You move your eye to the next word or group of words. This is called a “saccade,” and it takes up to about .1 seconds on average. After this is repeated once or twice, you pause to comprehend the phrase you just looked at. That takes roughly 0.3 to 0.5 seconds on average. Add all these fixations and saccades and comprehension pauses together and you end up with about 95 percent of all college-level readers reading between 200 and 400 words per minute, according to Keith Rayner, a psycholinguist at the University of Massachusetts Amherst. The majority of these college-level readers reads about 300 words per minute.
I’ve always thought of myself as a slow reader. This article puts reading speed into perspective.