How Much Do Gas Taxes Affect Prices?
September 13, 2005
With gas prices in the headlines, the Tax Foundation has released a new “Fiscal Fact” with some interesting data on the effect of local, state and federal gas taxes on prices at the pump:
Today, the combined burden of federal, state and local gas taxes costs American drivers an average of 45.9 cents on every gallon purchased… In some states the combined taxes exceed 60 cents for every gallon purchased. In these times of concern over high gas prices, American consumers should remember that gasoline taxes have a significant impact on the amount they spend at the pump.