January 5, 2015

Top Republican open to gas tax increase

The incoming Republican leader of the Senate Transportation Committee said Sunday an increase is up for consideration, as "we have to look at all the options."

"I don't think we take anything off the table at this point," John Thune said on "Fox News Sunday."

Prices at the pump are at the lowest point in years -- the nationwide average has tumbled more than a dollar in the last year, reaching $2.20 on Monday.

The feds currently collect 18.4 cents in tax per gallon of gasoline.

When varying state taxes are factored in, the price of gas at the pump includes 23.47 cents in taxes, according to an estimate from the U.S. Energy Information Administration.
CNN -

AAA: Most Americans Support Federal Gas Tax Increase If It Leads To Better Roads

The current federal tax on gas is 18.4 cents per gallon (24.4 cents per gallon for diesel) with states adding in an additional 8 cents to 50.6 cents per gallon depending on where you buy your gas (quick look: Alaska is the least expensive while New York is the most expensive).

Without a boost, the current average cost of regular unleaded gasoline is $3.67 per gallon across the country (it’s $3.654 in my neck of the woods according to AAA’s handy fuel price finder). That works out to about a nickel more than on the same date last year. For the remainder of summer – peak driving season – AAA predicts that gas prices are likely to remain near a range of $3.55-$3.70 per gallon, which is similar to last summer’s range of $3.47-$3.67.

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