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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. [16] [17] 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.
Average prices for both petrol and diesel across UK forecourts are nearly 7p per litre cheaper than a month ago. ... Typical per-litre petrol prices have fallen from 142.9p to 136.2p, while diesel ...
Fuel economy is the distance travelled per unit volume of fuel used; for example, kilometres per litre (km/L) or miles per gallon (MPG), where 1 MPG (imperial) ≈ 0.354006 km/L. The higher the value, the more economic a vehicle is (the more distance it can travel with a certain volume of fuel). This measure is popular in the US and the UK (mpg ...
The average retail price was, on average, US$3.04 per U.S. gallon. [19] The average retail price of a liter of petrol in the United Kingdom was 86.4p on October 19, 2006, or $6.13 per gallon. [ 20 ] Oil production in Iraq continued to decline as result of the nation's ongoing conflict causing a decrease in production to 1 million barrels per ...
September 25, 2024 at 5:40 AM. Petrol prices have reached a three-year low due to a fall in oil prices and the strength of the pound. The average price of a litre of the fuel at UK forecourts on ...
The price as at 20 January 2022, on the U.S. Henry Hub index, is US$3.87/ MMBtu ($13.2/ MWh). [4] The highest peak (weekly price) was US$14.49/MMBtu ($49.4/MWh) in January 2005. [5] The 2012 surge in fracking oil and gas in the U.S. resulted in lower gas prices in the U.S. This has led to discussions in Asian oil-linked gas markets to import ...
The oil and gas industry in the United Kingdom produced 1.42 million BOE per day [4] in 2014, of which 59% [4] was oil/liquids. In 2013 the UK consumed 1.508 million barrels per day (bpd) of oil and 2.735 trillion cubic feet (tcf) of gas, [5] so is now an importer of hydrocarbons having been a significant exporter in the 1980s and 1990s.
It was prompted by a technical shortcoming of petrol pump design: pumps (which were electro-mechanical) had been designed to be switchable between metric and imperial units, but had no provisions for prices of £2 or more per unit of fuel. Once the price of petrol rose above £1 per gallon, the industry requested that they be permitted to sell ...