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Latest Fuel tax Stories

2005-11-14 03:04:13

BEIJING (Reuters) - China reiterated that it might liberalize prices of oil, gas, coal and electricity to encourage more efficient use of resources, but ruled out imposing a widely discussed fuel tax because of current high prices. Officials also said construction of the first phase of the strategic oil reserves in China, which is concerned with energy security as crude imports grow, was proceeding well. "The first phase project is being carried out very smoothly. When it is...

2005-11-07 17:14:37

By Tom Doggett WASHINGTON (Reuters) - U.S. drivers found more savings at the pump in the latest week as the national retail price for gasoline fell below $2.40 a gallon, and prices will keep falling, the government's top energy forecasting agency said on Monday. The price for regular unleaded gasoline dropped 10.4 cents over the last week to $2.38 a gallon, still up 38 cents from a year ago, based on the Energy Information Administration's weekly survey of service stations. The...

2005-10-03 16:18:39

By Tom Doggett WASHINGTON (Reuters) - The national retail price for gasoline jumped 12.5 cents over the last week to the third highest level ever and diesel fuel soared 34.6 cents to a record high as Gulf Coast oil refineries remained shut due to hurricanes Katrina and Rita, the government said on Monday. The latest pump price for regular unleaded gasoline averaged $2.93 a gallon, up 99 cents from a year ago and not far from the record $3.07, based on the Energy Information...

2005-09-26 11:25:07

By Gelu Sulugiuc NEW YORK (Reuters) - With gasoline prices close to inflation-adjusted records not seen since the 1980s, the last thing Americans want to hear is that they should be paying more. But some newspaper columnists and even auto industry executives are calling just for that: an increase in the federal gasoline tax. Faced with virtually no support in Congress or from the public, they nevertheless say a tax hike closer to levels seen in Europe is needed to shift the U.S....

2005-09-25 03:32:15

WASHINGTON (Reuters) - Gasoline prices have soared in the past year and the companies that refine crude oil into gasoline have taken by far the largest share of the new revenue, the Washington Post reported on Sunday. While the average price of gasoline has risen 64 percent over the past year, to $3.06 a gallon from $1.87, the refiners' take has risen 255 percent, to 99 cents from about 28 cents a gallon. The paper said that prices had been increasing over the past year, aside from...

2005-09-14 17:20:46

By John Crawley WASHINGTON (Reuters) - U.S. airlines on Wednesday asked Congress to rollback the tax on jet fuel to make it easier for them to raise fares and counter sustained high fuel prices made worse by Hurricane Katrina. Senate Republicans at a Commerce Committee hearing said they wanted to help the beleaguered industry, but some noted the one-year tax holiday would require an estimated $600 million in new federal spending to offset the loss of tax receipts. No Democrats...

2005-09-13 20:35:43

By Peter Griffiths LONDON (Reuters) - Britain was braced for the start of a three-day protest against high fuel prices on Wednesday, with the government and police vowing to keep supplies moving if demonstrators try to block them. Police chiefs said they would not allow protesters to obstruct roads leading to oil refineries -- a tactic which brought Britain to a standstill during similar protests in 2000. Organizers have been wary of giving details of their plans and the only...

2005-09-12 15:31:22

WASHINGTON (Reuters) - The average retail nationwide gasoline price fell sharply in the latest week to $2.96 a gallon, one week after surging nearly 50 cents a gallon due to Hurricane Katrina, the U.S. government said on Monday. The national average pump price for regular unleaded gasoline fell 11.4 cents, according to a weekly survey of more than 800 service stations by the Energy Information Administration. The new price is $1.11 per gallon higher than one year ago. When adjusted...

2005-09-02 15:01:47

By Karen Pierog CHICAGO (Reuters) - U.S. states, reeling from skyrocketing gasoline prices in the wake of Hurricane Katrina, have launched probes into alleged profiteering and are mulling temporary relief for drivers by suspending taxes. Boosting the use of alternative fuels like ethanol to relieve gasoline supply worries is also being pushed by officials in some states. Responding to numerous consumer complaints about pump prices jumping -- sometimes within hours -- investigators...

2005-09-02 14:35:16

By Karen Pierog CHICAGO (Reuters) - U.S. states, reeling from skyrocketing gasoline prices in the wake of Hurricane Katrina, have launched probes into alleged profiteering and are mulling temporary relief for drivers by suspending taxes. Boosting the use of alternative fuels like ethanol to relieve gasoline supply worries is also being pushed by officials in some states. Responding to numerous consumer complaints about pump prices jumping -- sometimes within hours -- investigators...


Word of the Day
abrosia
  • Wasting away as a result of abstinence from food.
The word 'abrosia' comes from a Greek roots meaning 'not' and 'eating'.