How where you live determines the price you pay for gas

Mar 9, 2022 · According to NewsNation local affiliate KTLA, places like California have seen the average price per gallon of gasoline jump to $5.34. Three factors go into why some places see higher gas prices than others: taxes, distance and kinds of additives used. Each state taxes …

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How Where You Live Determines The Price You Pay For Gas

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What Determines Gas Prices? - Investopedia

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Nov 22, 2024 · When gasoline prices rise, suppliers tend to get blamed. When gas prices rose to all-time highs in 2008, a CNN poll at the time found that 62% of respondents blamed rising …

investopedia.com

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Who Really Controls Gas Prices In The U.S.? Hint, Not Politicians

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Sep 3, 2021 · Since 2006, the price difference between varying grades of gasoline has increased. From 1995–2006, the price difference was only about $0.10 per gallon between gasoline grades.

marketrealist.com

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Why Gasoline Prices Vary From Station To Station

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Apr 11, 2022 · Gas station owners don't like high gas prices any more than you do. Profit margins are already slim (think $0.05 to $0.07 per gallon), and when gas prices are high, people spend …

howstuffworks.com

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Why Does Gas Vary So Much From Town To Town? Here's The Answer …

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Apr 16, 2020 · Gas has dropped on average .78 cents just this month in Wisconsin. However, depending on where you live, you could pay under a dollar or as much as $1.50 a gallon for …

wsaw.com

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Why Gas Prices Vary So Much From State To State | Vox

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Dec 18, 2014 · The actual price at the pump can vary wildly depending on where you live. A driver in St. Louis now pays about $2.08 per gallon. A driver in St. Louis now pays about $2.08 per …

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How Much Tax Do Gas Stations Pay The Government?

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Jan 1, 2021 · Station owners set an overall price that includes the tax rate. Assuming a hypothetical gas price of $3.34 per gallon, $0.184 goes to federal taxes and $0.19 to state …

bizfluent.com

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The Most And Least Affordable Cities For Gas In America

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Jan 6, 2025 · The most affordable city for gas is Boulder, CO, where a gallon ($3.36) costs 10.80% of the local average hourly wage ($31.13). Neighboring Denver is also in the top ten. …

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FAQs about How where you live determines the price you pay for gas Coupon?

What determines the price of gas?

The biggest thing that determines the price of gas is oil, since gasoline is made from oil. The price of oil accounted for 53.6% of the price of a gallon of regular in 2021, according to the Energy Information Administration. ...

Does the price of gas vary based on where you live?

Well, it’s complicated. The price of gas is based on a number of things, some of which vary according to where you live. Most people know that the price of crude oil affects how expensive gasoline is. That doesn’t fluctuate by state, but taxes, fees, and environmental regulations do. Location matters, too. ...

Why do gas prices vary across states?

There are several key factors that result in a variation in gas prices across states. One of the main factors is taxes. Each state sets its own taxes on gasoline, which can vary greatly. As of July 2023, California has a 2.25% sales tax rate on gasoline, while Texas levies a flat tax of $0.20 per gallon of gas. ...

Who sets gas prices?

The short answer is that no single person, company or government can really be said to set gas prices, the same way that no single entity controls the prices of the most common types of car insurance. But it is possible to break down some of the major factors that go into determining what a gallon of gas sells for. Let's take a look. ...

How much does gas cost in different states?

The difference in gas prices among states can be more than $2 per gallon. State taxes and fees are a major reason for the variations. Proximity to refineries and transportation facilities can also influence how much you pay at the pump, and so can environmental regulations like those in California that require cleaner-burning fuel. ...

What factors affect the price of gasoline?

Here, we take a look at the factors that affect the price of gasoline. Gasoline prices are determined largely by the laws of supply and demand. Gasoline prices cover the cost of acquiring and refining crude oil as well as distributing and marketing the gasoline, in addition to state and federal taxes. ...