Why the Era of High Gas Prices Is Supposedly Ending) In some cases, drivers wont benefit room the decline in wholesale gas prices because consumer prices will be flat or even higher thanks to rising gas taxes Imposed at the state level. Essentially.
As of January 1, the gas tax in Pennsylvania increases by 9. C per gallon of regular and 1 C per gallon on diesel fuel, at the wholesale level. Over the course of five years, the state gas tax will rise ICC per gallon, according to the Pennsylvania Department of Transportation.
It's unclear the extent to which the wholesale tax hike will be passed along to customers, but as a spokesperson for one fuel supply chain told he Associated Press, "Our margins are extremely minimal with gasoline and any increase In cost, like any other product
..., ultimately gets passed on In the retail price. " West Virginia is another state where gas taxes are being hiked as of January 1, though only by 1 C.
Other states increased gas taxes in the recent past, such as Wyoming, which raised the fuel tax from ICC to ICC in 2013, the largest increase of any state last year.
Still other states, including South Carolina, New Hampshire, and beyond, have gas tax hike proposals in the works. There are also active discussions bout gas tax Increases at the federal level; Atlantic Cities summed up a couple proposals getting attention?a flat ICC per gallon hike, and a new per-mile-driven tax.
In all cases, taxes are being increased or perhaps introduced in order to upgrade, build, or simply maintain roads and infrastructure. (MORE: Congress Is Screwing
Public Transit users ? And We'll All Pay the Price) The result would seem to be that even as predictions call for the era of constantly escalating gas prices to end, because of Increases In gas taxes and other marketplace factors, drivers shouldn't drivers will surely pay more.
- Energy Development essays
- The elements essays
- Voltage essays
- Solar Energy essays
- Nuclear Energy essays
- Alternative Energy essays
- Atom essays
- Big Bang Theory essays
- Density essays
- Electricity essays
- Energy essays
- Force essays
- Heat essays
- Light essays
- Motion essays
- Nuclear Power essays
- Physiology essays
- Sound essays
- Speed essays
- Temperature essays
- Thermodynamics essays
- Gas prices essays
- American Dream essays
- Barriers To Entry essays
- Capitalism essays
- Central Bank essays
- Compensation essays
- Consumerism essays
- Economic Development essays
- Economic Growth essays
- Economic Inequality essays
- Economic System essays
- Economy essays
- Employment essays
- Export essays
- Finance essays
- Free Trade essays
- Gross Domestic Product essays
- Human Development essays
- Income Inequality essays
- Industry essays
- Inflation essays
- International Business essays
- International Trade essays
- Macroeconomics essays
- Materialism essays
- Max Weber essays
- Microeconomics essays
- Minimum Wage essays
- Monetary Policy essays
