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The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1][2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
There are two different insurance premium tax rates: [1] a standard rate of 12%. a higher rate of 20%. Insurers providing taxable insurance are required to register and account for IPT, as must intermediaries who sell insurance subject to the higher rate of IPT and charge a separate insurance-related fee on top of the premium itself. The ...
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
"With Delta achieving an all-time record in single-day cash sales last week, management is increasingly confident in its ability to pass 100% of higher fuel costs to fare prices in 2Q22," the ...
The 2007 fuel tax was €0.684 per litre (€2.59/US gal; €3.11/imp gal). On top of that is 21% VAT over the entire fuel price, making the Dutch taxes one of the highest in the world. In total, taxes account for 68.84% of the total price of petrol and 56.55% of the total price of diesel. [20]
Fuel price risk management. Fuel price risk management, a specialization of both financial risk management and oil price analysis and similar to conventional risk management practice, is a continual cyclic process that includes risk assessment, risk decision making and the implementation of risk controls. It focuses primarily on when and how an ...
Price hikes for basic goods such as fuel and food are highly sensitive in Iran. Protests spread across Iran in 2022 over a cut in state subsidies on food, with slogans calling for top leaders to ...
The International Fuel Tax Agreement (or IFTA) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. [1] Alaska, Hawaii, and the Canadian territories are not required to participate, however all of Canada ...