Gasoline Price Checklist

[silver-eagle]

Local news said it was due to 2 reasons:
1. Some refinery in Joliet is down for some reason
2. Switch to summer blends (more additives)

Smoke, cold breeze, BS. You missed where they blamed the tornadoes, hurricanes, earthquakes, tsunamis, fires, midday sun, or phase of the moon.
My bet is profit taking. Everyone is looking for more money and gas in the US is way below price per gallon as compared to the UK. Even though we've been separated from them for several years, some still compare us to them.

 

[flyingcheesehead]

They'll also continue to complain about "lower tax revenues" when every increase in fuel price, nets them an increase in fuel taxes collected, if equal amounts of fuel are purchased.

Nate,

You've made this assertion twice, but I don't get it. How does 18.4 cents per gallon go up when the price per gallon goes up? It's not a percentage. So, if equal amounts of fuel are purchased, the tax revenue is exactly the same.

In fact, if gas prices go DOWN (increasing travel and thus demand and consumption) the government gets MORE tax revenue from the roads, exactly opposite of your assertion.

 

[denverpilot]

Nate,

You've made this assertion twice, but I don't get it. How does 18.4 cents per gallon go up when the price per gallon goes up? It's not a percentage. So, if equal amounts of fuel are purchased, the tax revenue is exactly the same.

In fact, if gas prices go DOWN (increasing travel and thus demand and consumption) the government gets MORE tax revenue from the roads, exactly opposite of your assertion.

Our $0.22 is based on a percentage of price AFAIK here in Colorado. It's not instant at the pump, it's re-assessed every year.

Guess I could be misinformed on that.

 

[flyingcheesehead]

Our $0.22 is based on a percentage of price AFAIK here in Colorado. It's not instant at the pump, it's re-assessed every year.

Guess I could be misinformed on that.

There's no note to that effect for Colorado here, but there is a note to that effect next to Wisconsin. However, our rate changes are based on CPI, not on the gas prices themselves.

 

[EdFred]

Here in MI we also have sales tax on gasoline, so there is no incentive for the gov't to look into high prices. 6% of $4.00 is better than 6% of $3.00.