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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.
The US liquid gallon (frequently called simply "gallon") is legally defined as 231 cubic inches, which is exactly 3.785411784 litres. [7][8] A US liquid gallon can contain about 3.785 kilograms or 8.34 pounds of water at 3.98 °C (39.16 °F), and is about 16.7% less than the imperial gallon.
More than 50% of the US population drinks bottled water and 'people spend from 240 to over 10,000 times more per gallon for bottled water than they typically do for tap water.' An annual supply of bottled water for a person who consumes 8 glasses a day would cost approximately $200; the same amount of tap water would cost approximately $0.33.
US oil output hit an all-time high of 13.4 million barrels per day recently, according to weekly federal data. That is just above the peak of 13.1 million barrels per day under Trump.
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Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
September 12, 2024 at 6:04 AM. By Shariq Khan. NEW YORK (Reuters) - U.S. motorists should see gasoline prices fall below $3 a gallon for the first time in over three years as soon as next month ...
Petroleum or crude oil, also referred to as simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrogencarbons, [1] and is found in geological formations. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that consist of refined crude oil.