gas prices

Klingsor

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This thread was started at the height of worldwide gasoline prices. They have come down considerably since then, showing the cyclical nature of most supply and demand commodities. What is lost here on many non-americans is how dependent our country is on gas, given its sheer size, for transporting everything from food to construction materials. This doesn't even account for our love of boating recreation, a huge industry and part of our economy and job market. Gas is part lifestyle, part necessity. What americans miss is how addicted we love our cars, myself included. That said, leaps have been made in increasing miles per gallon, and looking toward alternative sources to power cars. But there is nothing like the hum and power of my car engine when I get it out on the highway!

Not sure what your point is. Are you arguing against anything in particular?
 

vince

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All of the developed world is just as hooked on fossil fuel as the USA Jjz. We get it.

I pay about 5.50 per gal of 95 octane and close to $6.00 for diesel. Two years ago it was at $11.00 per gallon. The difference is due to the falling price of crude and currency fluctuations.
 

bryan257

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our gasoline (petrol) price in the Southeastern U.S., the State of South Carolina is currently abt $1.69 per gallon, which translates to around £1.13 per US gallon or around ,29p per litre (a litre being slightly more than one US quart, 1/4th of a US gallon). However, the Northern, Northeastern US and West Coast, US in California are a lot more. Every US State has variable tax per gallon of gas.
 

Jjz1109

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Tax makes up about 70% of the price at the pump.

Wow. So, do we complain about the big oil companies, or the big government? That said, presumably those taxes go to those social programs, so really can't complain?
 

Boobalaa

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Wow. So, do we complain about the big oil companies, or the big government? That said, presumably those taxes go to those social programs, so really can't complain?
Most gas tax goes towards Transportation ; in California,
The $5 billion raised annually to the general fund, according to the Howard Jarvis Taxpayers Association, along with $1 billion in annual truck weight fees to pay debt on general obligation bonds.

A proposal by state Sen. Jim Beall, D-San Jose, would bring these dollars back to transportation needs. When voters approved $20 billion in transportation bonds in 2006, those bonds were to be repaid from the general fund, but state officials decided to use the truck fees to pay them off, freeing up general fund money for other purposes.
 

vince

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Wow. So, do we complain about the big oil companies, or the big government? That said, presumably those taxes go to those social programs, so really can't complain?
The social programs here, while universal, are not very generous and are funded by payrolls. Oil company profit margins are robust from what I have been told. Most of the fuel taxes are used to reduce the current account deficit and to some extent, the smaller budget deficit. There has also been a huge road and transit improvement programme in the past 10 years.
Corporate profit taxes are 20% and personal taxes are capped at 35%. VAT is 18%.