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Federal tax revenue on gasoline and diesel. Federal fuel taxes raised $36.4 billion in Fiscal Year 2016, with $26.1 billion raised from gasoline taxes and $10.3 billion raised from diesel and special motor fuel taxes. [16] The tax was last raised in 1993 and is not indexed to inflation.
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.
At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
Diesel prices have risen to their highest levels since March and are showing no immediate signs of easing their upward trend. The national price of diesel was at $4.38 per gallon as of Monday, $0. ...
The price of a gallon of gasoline in California is driven largely by oil prices. The California Energy Commission found in November that about 41%, or $2.02, of the cost is crude oil.
Gas prices in California will go up about 3 cents on July 1 due to the state's excise tax on gasoline, which is adjusted each year.
Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax increase, which took effect in April 2009, was the most recent time federal tobacco tax rates were changed.
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