Latest Fuel tax Stories

The Russian Union of Oil and Gas Industrialists has called upon the country's federal government to reduce prices of petrol, diesel and aviation fuel by slashing taxes, according to Itar-Tass. The president of the Union of Oil and Gas Industrialists, Gennady Shmal, said that while all taxes cannot be done with, they need to be cut so that the price of AI-95 gasoline and diesel will decrease by RUB7 to RUB8. Mr Shmal noted that in Russia the tax component of fuel price is around 55% to 58%,...

By The Associated Press WASHINGTON (AP) - The political vision of a summer gas tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they go anywhere. Despite calls from the presidential campaign trail for a Memorial Day-to-Labor Day tax freeze, lawmakers quickly concluded - with a prod from the construction industry - that having $9 billion less to spend on highways could create a pre-election specter of...

Crude oil prices fell Friday in New York, marking a fourth straight day in declining prices for the bellwether commodity. Oil prices settled at $128.82 per barrel on the New York Mercantile Exchange, down more than $2 on the day and nearly $20 below its record price set a week ago. The price of heating oil rose 0.0085 cents in late trading to $3.70 per gallon. Reformulated blendstock gasoline prices fell 0.0014 cents to $3.1695 per gallon. Natural gas prices rose 0.11 cents to $10.68 per...

By GRAEME SMITH and MICHAEL SETTLE THE political battle over oil and gas revenue has reignited after the industry revealed that on the back of high prices it is set to pour GBP6bn more than expected in tax into Treasury coffers - doubling last year's overall tax-take. The news sparked renewed calls from First Minister Alex Salmond for Scotland to get a significant share of the North Sea windfall, a subject that today is likely to dominate political argument in the increasingly heated...

By Colin Brown Deputy Political Editor Fuel taxes would fall as oil price rises *Petrol would be 5p a litre cheaper today A cut of 5p a litre in the price of petrol and diesel was proposed by the Tories yesterday, with radical plans to change the way tax is levied on fuel in the wake of record global prices for oil. The shadow Chancellor, George Osborne, launched a consultation on plans to scrap the existing fuel duty escalator and to replace it with a "fair fuel stabiliser" which would...

By Tom Cartwright AS the national average price of gas approaches $5 per gallon, everyone is scrambling to come up with a solution. Everything from more offshore drilling to closing the oil companies' tax loopholes is being proposed. Here in California, the situation is more desperate. We lead the nation in miles traveled, vehicle ownership and the price of gas. Nearly everyone agrees that we need to reduce our demand for oil before prices will come down - if ever. While alternative...

By Mac McLean, Bristol Herald Courier, Va. Jul. 3--If you want to save a few cents on Twin City gas prices this weekend, pull off of Interstate 81 at Exit 7 instead of Exit 5. You might also want to try filling up in Tennessee along U.S. Highway 11E or 11W rather than at stations on U.S. Highway 11 in Virginia. Both steps could make a difference as the price of gas across the country continues to climb as the Fourth of July weekend approaches. But AAA spokeswoman Stephanie Milani said...

A controversial carbon tax in the Canadian province of British Columbia is already fueling complaints that gasoline stations are raising prices and using the tax as a cover.The already-controversial tax, which took effect on Tuesday, added 2.34 Canadian cents per liter to the pump price. The Vancouver Sun reported Wednesday that stations are cashing in on the change by pushing up prices an additional 4 cents. British Columbia officials declined to comment on the increases that elevated prices...

By Mark Glover, The Sacramento Bee, Calif. Jul. 1--Californians used less gasoline in March, continuing a downward trend in consumption that state officials linked to high gasoline prices. Figures released Monday by the state Board of Equalization said state motorists used 3.2 percent less gasoline in March than they did in the same month a year ago. The BOE said statewide consumption in March was 1.234 billion gallons, 43.5 million fewer gallons than for March 2007. This year's March...

By Dan Thanh Dang, The Baltimore Sun Jul. 1--The Q:At the Exxon on Honeygo Boulevard in White Marsh, regular unleaded gasoline was running $4.17 a gallon at the end of last week. Not too far away at Ebenezer Road and Pulaski Highway, the Texaco was selling it at $3.99 a gallon while Sunoco priced its gas at $3.94 a gallon and Shell was selling the same for $3.96 a gallon. Reader Bill Dunbar called with a twinge of vexation in his voice about those wildly varying prices. "One White Marsh...