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The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [ 1 ] [ 2 ] Proceeds from the tax partly support the Highway Trust Fund . The federal tax was last raised on October 1, 1993, and is not indexed to inflation , which increased 111% from Oct. 1993 until Dec. 2023.
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
The gas prices chart below, based on daily price updates from AAA, illustrates how much the cost of gas can vary from one state to another. ... Gas prices rose $0.23 in California and $0.19 in ...
In the United States and Canada, octane ratings are in AKI, commonly shown as "(R+M)/2". All states require gas pumps to be labeled with the correct octane level and nearly all states do regular testing to make sure gas stations are in compliance. A minimum 82 octane fuel is recommended for most vehicles produced since 1984.
(The Center Square) - California gas prices could rise up to $1.15 per gallon next year thanks to the state’s new carbon credit system, taxes, refinery regulations, and refinery shutdown. This ...
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Gas prices may refer to: Gasoline and diesel usage and pricing; Natural gas prices This page was last edited on 26 September 2023, at 18:25 (UTC). Text is available ...
Diesel prices have risen to their highest levels since March and are showing no immediate signs of easing their upward trend. The national price of diesel was at $4.38 per gallon as of Monday, $0. ...