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The cheapest way to lower gas prices is to allow oil companies to increase crude oil production in California and rely less on supply from overseas, Reheis-Boyd said.
Newsom calls on lawmakers to slap a windfall tax on oil companies.
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On average, as of April 2019, state and local taxes and fees add 34.24 cents to gasoline and 35.89 cents to diesel, for a total US volume-weighted average fuel tax of 52.64 cents per gallon for gas and 60.29 cents per gallon for diesel. [3]
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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.
But since February 2024, prices started to increase again. Washington has the third-highest gas prices in the country, following California at $5.30 a gallon and Hawaii at $4.81 a gallon ...
The Nickel Project was designed to generate $3.9 billion over a ten-year period to finance 158 transportation projects across Washington. The funding was sourced through: Gas Tax Increase — A 5-cent per gallon increase in the state gasoline tax. Heavy Truck Fees — A 15% increase in gross weight fees for heavy trucks.