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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 current national gas price average is $3.62 per gallon. 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 ...
While prices have come down since the peak in June, prices were beginning to tick up again. Gas prices hit $3.79 a gallon the week of September 29, 2022, up from $3.73 on September 23, 2022 — an increase of $0.06 per gallon over the last week. [14] Since October 10, 2022, the price of gasoline has gone down again.
The United States federal excise tax on gasoline is 18.4 cents per US gallon (4.9 ¢/L) and 24.4 cents per US gallon (6.4 ¢/L) for diesel fuel. On average, as of July 2016, state and local taxes add 29.78 cents to gasoline and 29.81 cents to diesel for a total US average fuel tax of 48.18 cents per US gallon (12.73 ¢/L) for gas and 54.21 ...
As of today, 24 states are selling regular gas below $3.00 a gallon and only three (Hawaii, California and Washington) at prices over $4.00. Here are the 10 least expensive states for gas: The 10 ...
Though gas prices going up is just an expected reality these days, U.S. retail gas prices were down from 2022 to 2023. Overall, prices were $0.43 less in 2023 than in 2022 on average. Reasons for ...
The federal gasoline tax was first imposed in 1932 at one cent per gallon; during the Eisenhower administration, the Highway Trust Fund, established by the Highway Revenue Act in 1956, prescribed a three-cent-per-gallon fuel tax, soon increased to 4.5 cents per gallon. Since 1993 the tax has remained at 18.4 cents per gallon. [72]
Proponents argued that this could reduce the gas price at the pump by about 18.4 cents a gallon for regular unleaded gasoline and 24.4 cents a gallon for diesel. If it were done, it was estimated the gas tax holiday would save consumers roughly $30 over the three-month period it would be instated. [1]