Saturday, July 3, 2010

CA Gasoline tax hits 67cents/gallon

California has the highest gasoline (and diesel) tax in the nation.  Recently, the tax scheme was changed to include a flat 17 cents/gallon plus 2.25 percent excise tax to ensure revenue in an economic environment of sliding gas prices.  The gasoline sales tax had been 8.25 percent, but legislators fear the recession will continue to reduce the quantity and price of fuel consumption.

As of April, total gasoline taxes in CA averaged 67.0 cents/gallon, 3.5 cents above second place Hawaii. http://www.api.org/statistics/fueltaxes/ That's more than TRIPLE the PROFIT per gallon of the oil companies.

Another effect of the tax hike is to prepare Californians for AB32 and Federal Cap and Trade policies which will "neccesarily make energy prices skyrocket" in the worlds of power-hungry President Obama.

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