The Price of Gas and Taxation

Gas Tax 426x320 The Price of Gas and TaxationGovernment wins big on gas, no matter what the price is.

This infographic from H&R Block shows us how much the government is raking in when we buy gas. With an average national gas tax of 48.8 cents a gallon, that means uncle Sam is getting $5.86 on a 12 gallon fill up.

To be fair, the majority of gas taxes are coming from the state level and are likely applied to worthy causes such as highway repairs and investment in alternative transportation modes.

Speaking of oil, look at where most of the U.S. oil is coming from. Canada. The Keystone XL pipeline wouldn’t change much in the near future, but this is indicative of a what a major impact it could have in the longer term.

Pricaes at the Pump1 The Price of Gas and Taxation

 

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