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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.
Compare the current average gas price in California at $4.49, to lower-taxed southern states like Texas at $2.75, Oklahoma at $2.66 and Louisiana at $2.78. But Borenstein has another theory for ...
The national average price for a gallon of gasoline is at $3.50, according to AAA as of Jan. 26, 2023. ... 1970. Price of a gallon of gas: $0.36. In 2022 dollars: $2.67 ... Flagg's big 2nd half ...
The California excise tax on gasoline as of mid-2011 is 35.7 cents per gallon for motor fuel plus a 2.25% sales and use tax, 13 cents per gallon for diesel plus a 9.12% sales and use tax. [37] The California Department of Tax and Fee Administration provides an online list of sales taxes in the local communities of the state. [9]
In 1970, a gallon of gas cost 36 cents. By 1981, it had more than tripled to $1.19. For context as to just how bad things are now, $1.19 in 1981 was worth $4.05 in today’s money — gas was ...
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.
California’s average gasoline price Friday was well above the national average of $3.46 a gallon, according to AAA’s daily survey. The state average for a gallon of regular gasoline was $4.81 ...
Drivers in California already pay the highest gas prices in the ... average of $3.867 a gallon. The price in California is up more than $1 from its average of $5.268 as recently as September, and ...