The federal tax on gasoline stands at 18.4 cents a gallon, while the tax on diesel is 24.4 cents a gallon. If the federal gas tax was paused, pickup truck drivers stood to save $5.52 every week and compact-car drivers would save $2.21.
“‘It’s not the best idea. It’s bullish energy prices because it’s reducing the price to the consumer. And the law of demand says they’re going to consume more if you take down the price.’”
The federal tax on gasoline stands at 18.4 cents a gallon, while the tax on diesel is 24.4 cents a gallon. If the federal gas tax was paused, pickup truck drivers stood to save $5.52 every week, according to Patrick De Haan, head of petroleum analysis at GasBuddy. At the other end of the automotive spectrum, compact-car drivers would save $2.21.
August Brent crude BRN00, -2.21% BRNQ22, -2.17%, the global benchmark, fell $2.91, or 2.5%, to $111.74 a barrel on ICE Futures Europe, its lowest close since May 18. Back on Nymex, July gasoline RBN22, -1.37% rose 1% to $3.834 a gallon.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Gas prices in Southland drop as President Biden calls for three-month federal gas tax holidayAs the price of gas skyrockets by almost 2 dollars per gallon in America, President Joe Biden called on Congress and state governments to provide direct relief to American consumers, asking legislatures to suspend the federal gas tax for three months, through September.
Les mer »
President Biden calls on Congress to suspend the federal gas tax for 90 daysWith the national average for a gallon of gas hovering around $5, President Biden has called for a temporary suspension of the federal gas tax.
Les mer »
What a Federal Gas Tax Holiday Could Mean for Prices at the PumpWith gas prices around the country at historic highs, lawmakers are considering giving drivers a break on federal gas taxes.
Les mer »
President Biden to Propose 3-Month Suspension of Federal Gas TaxWhen the tax is just $0.18 per gallon, how much will consumers really notice? And what's to stop oil companies from raising prices again?
Les mer »
President Biden pushing Congress for 3-month gas tax holidayAs gas prices hover around historically high levels, President Joe Biden is now pushing on congress to pass a federal gas tax holiday.
Les mer »
Biden will call on Congress to pause gas tax for 3 monthsPresident Joe Biden will call on Congress Wednesday to pause the federal gas tax for three month as Americans across the country deal with record-high gas prices.
Les mer »