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Gasoline prices set to drop statewide after the New Year, but will Bucks County drivers benefit? PA gas tax to fall, cost of gas down nationally. So when will Bucks County see $3 gas?
Federal and state taxes: 12.8% of gas price Distribution and marketing costs: 12.4% of gas price All of these factors have one thing in common: They're completely out of your control.
Topping the list is Pennsylvania, where drivers pay an eye-popping $0.576 per gallon in gas taxes. But this hefty tax isn't just lining pockets -- it's being put to work.
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
In 2024, inflation has hit the U.S. and the global economy with a vengeance. From the perspective of the American consumer, the skyrocketing cost of gas has likely been the clearest indication of...
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] However, Barack Obama and others argued that the oil companies would not significantly lower prices and would instead pocket most of the tax cut, effectively turning the cut into a tax loophole. [2]
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 cents per US gallon (14.32 ¢/L) for diesel.
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