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September 12, 2024 at 6:04 AM. By Shariq Khan. NEW YORK (Reuters) - U.S. motorists should see gasoline prices fall below $3 a gallon for the first time in over three years as soon as next month ...
Separate data from AAA show the nationwide average for gas prices is $3.217 per gallon, down 17% from a year ago. Most states in the South and parts of the Midwest already pay less than $3 ...
Tight refining supply has kept the gap wide between wholesale gasoline futures and retail prices, currently at about $1.25 a gallon, far exceeding the average of 88 cents over the past five years.
Gasoline prices have also fallen to their lowest level since February, with the national average at $3.24 per gallon, according to AAA. ... The analysts forecast Brent will average $75 per barrel ...
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.
Even costly California has seen prices decline to $5.07 per gallon, down $0.60 from one month ago. “Gasoline demand has struggled in recent weeks, falling not only due to the seasonal nature as ...
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.
New Jersey’s statewide average was $3.12 for a gallon of gas, according to figures from AAA. That’s compared to $3.19 a week ago and $3.30 a month ago. And significantly lower than the $5.05 ...