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The national gas average on Friday sat at $3.53 per gallon, nearly $0.10 higher than a year ago, according to AAA data. “Gas prices are a lot like seasonal temperatures.
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.
Inflation rates in Switzerland just hit 30-year highs with gasoline prices being one major factor. Now a gallon of gas costs $2.36 per gallon more than the worldwide average and a whopping $3.64 ...
Oil prices jumped Thursday as traders assessed the ... increasing US gasoline prices by about $0.04 per gallon," wrote JPMorgan analysts. ... news and events moving stock prices. Read the latest ...
The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
"I expect that many service stations will be raising their prices $0.15 to $0.25 per gallon," Andy Lipow, president of Lipow Oil Associates, told Yahoo Finance.
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