JUST IN TIME FOR THE TAX HIKES …
Politicians banking on low gas prices as a hook for raising taxes on fuel (ahem) might want to pay attention to this post …
According to survey publisher Trilby Lundberg, U.S. gas prices are at their lowest level since April 2009 – but wholesale rates are beginning to inch back up. That means those rapidly falling numbers at your local fuel station won’t be declining much further … and could start climbing again very soon.
“The street price crash is either coming to an end or is already at its bottom,” Lundberg told Reuters.
In other words you’d be wise to take revenue projections for gas tax increases (like the one proposed last week by S.C. governor Nikki Haley) with an abundance of skepticism.
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They will start going up around Feb. 2nd as refineries have to start making the summer blend for less pollution.
ReplyDeleteLook for increases of 30 to 50 cents.
Im really curious as to how the drop in price will affect the cost of corn. For those of you who are not aware as to what point I am trying to make is that corn is the source of Ethanol that is mixed with the gas you put in your car. Furthermore how will this affect the farming community.
ReplyDeleteYou'r right ethanol is made from corn. To use a food product to make ethanol was undoubtably one of the stupidest ideas of all time.
ReplyDelete