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Gas prices in the United States have slid from their all-time peak in fall 2022, but there are drivers in at least one state who still pull up to the pump and cringe. The current average gas price ...
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 national average price for a gallon of gasoline is at $3.50, according to AAA as of Jan. 26, 2023. ... GOBankingRates mapped out a chronology of average gas prices for more than 90 years ...
The California excise tax on gasoline as of mid-2011 is 35.7 cents per gallon for motor fuel plus a 2.25% sales and use tax, 13 cents per gallon for diesel plus a 9.12% sales and use tax. [37] The California Department of Tax and Fee Administration provides an online list of sales taxes in the local communities of the state. [9]
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.
Two years ago, prices in California hit $6.44 a gallon in mid-June. Friday, the average price for a gallon of regular gasoline in the Sacramento area was $4.81, down from a week though up slightly ...
From California’s statewide average of $5.89 per gallon in September, the average price for a gallon of regular gas dropped more than a dollar (to $4.62) by t he end of the year.
In 1970, a gallon of gas cost 36 cents. By 1981, it had more than tripled to $1.19. For context as to just how bad things are now, $1.19 in 1981 was worth $4.05 in today’s money — gas was ...