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The average national price hit a new record high of $5.016 a gallon on June 14, 2022, according to AAA. That’s up from $4.452 a month ago and $3.080 as recently as last year.
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. 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 ...
The average cost of gas has decreased 15% in the last two years, from when it was $4.27 per gallon. The highest recorded average price of regular gas was in June 2022 at $5.06 per gallon.
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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.
The 2023 NHRA Camping World Drag Racing Series season was announced on September 5, 2022. [1] It was the 68th season of the National Hot Rod Association's top drag racing competition. The NHRA held 21 Top Fuel and Funny Car events, 18 Pro Stock events, and 15 Pro Stock Motorcycle events.
With New Year’s Day falling on a Monday, there’s a whole weekend leading up to New Year’s Eve on Sunday, Dec. 31 to send off 2023 and welcome 2024.
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