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In early 2020 the gas price has dropped down to a national average of $1.73 a gallon. [14] In 2021, the average price increased to $3.01/gallon. [15] By the end of June 2022, the price of gasoline reached a record high of over $5/gallon with some places reporting $6/gallon. [16]
In November 2021, the White House announced the release of 50 million barrels (7,900,000 m 3) to address high gasoline prices. [ 45 ] [ 46 ] On March 1, 2022, President Biden announced the release of 30 million barrels of oil from the reserve in response to Russia's invasion of Ukraine .
According to AAA data, gas is cheaper than it's been all year.The national average of gasoline sat at $3.14 per gallon on Tuesday, down from $3.37 a month ago. "We've seen oil prices slide over ...
Tight refining supply has kept the gap wide between wholesale gasoline futures and retail prices, currently at about $1.25 a gallon, far exceeding the average of 88 cents over the past five years.
November 24, 2021 at 5:49 AM ... The average retail price of gasoline was most recently at $3.40 for a regular gallon, up from roughly $2.11 at this time a year ago. ... highest since April 2020.
State Taxes. 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.
As expected, lower energy costs held the headline figures to a smaller gain, with energy prices dropping 2.3% month over month and 5.4% on an annual basis. This was dragged down by falling gas ...
The 2020 United States presidential election in Illinois was held on Tuesday, November 3, 2020, as part of the 2020 United States presidential election in which all 50 states plus the District of Columbia participated. [ 1] Illinois voters chose electors to represent them in the Electoral College via a popular vote, pitting the Republican Party ...