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Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
The leading crude oil-producing areas in the United States in 2023 were Texas, followed by the offshore federal zone of the Gulf of Mexico, North Dakota and New Mexico. [2] The United States became the largest producer of crude oil of any nation in history in 2023. [3] Natural gas production reached record highs. [4]
Gas prices have been on a downward trend recently, with the national average at $3.40 per gallon, according to AAA.. The EIA forecasts the average for 2023 to come in at $3.55 per gallon, compared ...
Last month, U.S. gasoline prices rose largely due to regional refinery outages in the west coast and the Midwest. In California, costs are up more than $1 per gallon in the last month whereas in ...
The United States was for decades, through 2008, the world's largest net importer of refined petroleum products. But the situation quickly changed in 2008 as American refineries became much more cost-competitive due to large increases in US production of oil, natural gas, and natural gas liquids. The US became a net exporter of refined ...
A 2021 study from the University of Wisconsin found that the RFS increased corn cultivation by 8.7% and total cropland by 2.4% through 2016. This resulted in 3 to 8% more fertilizer use and 3 to 5% more release of water degradents. This land-use change resulted in corn ethanol's carbon intensity being no lower than gasoline's and up to 24% ...
According to the U.S. Energy Information Administration, Americans had to spend only 4% of their pre-tax income on gasoline for their cars in 2012 -- a sum that hasn't increased since seven years ago.