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Gas hits $6 a gallon...

Re: Re: Gas hits $6 a gallon...

Originally posted by Rob Lister How much of that is taxes?

How do you spend that tax revenue?
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From memory, I think about 80% of the price at the pump is tax. It just goes into the general tax bucket.
 
taxes

Does the tax go up incimentally? In other words is it a fixed % of the price of gas. Or is it a fixed $ (pound) per gallon/liter?


Corwyn
 
Re: Re: Re: Gas hits $6 a gallon...

iain said:
From memory, I think about 80% of the price at the pump is tax. It just goes into the general tax bucket.
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Shame, that. Not the 80% (which is a shame of it's own...maybe) but instead that you can't account for it specifically. I assume then, since it is not levied for a product-specific fund (such as building roads or cleaning gas-related polution) then it might be aimed at keeping private vehicles off the road.
 
A few years ago I rented a car in Scotland and when my American sense of how much gas costs encountered UK prices, I was rather shocked.

The same controversy was going on then and a paper I read listed out how much was what tax, so I got to figuring, and sure enough, the actual amount the gas companies were charging the UK were the same as what the US gas companies were (after subtracting our own, much smaller taxes). The entire difference was basically tax.

I'm sure there's any number of American tourists who think a liter is, like, two or three gallons just because of how much gas costs in the UK...
 
Re: Re: Re: Re: Gas hits $6 a gallon...

Originally posted by Rob Lister Shame, that. Not the 80% (which is a shame of it's own...maybe) but instead that you can't account for it specifically. I assume then, since it is not levied for a product-specific fund (such as building roads or cleaning gas-related polution) then it might be aimed at keeping private vehicles off the road.
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To date, UK Chancellors have always been opposed to hypothecated taxation (i.e. saying "money raised from tax source X will be put into funding Y" as it reduces their flexibility to do with the money as they think is best.

I think our current incumbent may have used it in certain very limited situations, but not for fuel tax as of yet.
 
Re: taxes

Corwyn said:
Does the tax go up incimentally? In other words is it a fixed % of the price of gas. Or is it a fixed $ (pound) per gallon/liter?
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I'm reasonably certain it's a fixed number of pence per litre. There is some controversy at the moment as the government plans to increase the tax by nearly 2p per litre in the summer, but with crude oil prices so high they might postpone the increase.
 
Re: Re: Re: Gas hits $6 a gallon...

iain said:
From memory, I think about 80% of the price at the pump is tax. It just goes into the general tax bucket.
Click to expand...

That'd put it at about $1.20 when you take out the taxes. That's about what it is here when you take out the taxes, too.This coincides with what Zombified claimed.

If that's true, it shoots a lot of people's claims about gasoline prices out of the water and confirms what pretty much every economist has said. It'd be nice to get some hard numbers on this.
 
I would imagine that its done on a price rather than a %.

When the budget is announced they generally say that the duty on a litre of petrol has gone up by X pence. Rather than by Y%.

Ditto for ciggies and wine, beer and spirits.
 
Gas prices here are about $6.80 a gallon. (Assuming that a gallon is 4.25 litres and a $ is .75 Euro; gas is roughly 1.2 Euro a litre)

Of that, about 2/3 is said to be taxes. That makes the "taxless" price about $2.25 a litre.

I saw a TV magazine piece yesterday that said one of the reasons for rising gas prices here is that the US buys up any gas it can get in Europe.
 
Chaos said:
Gas prices here are about $6.80 a gallon. (Assuming that a gallon is 4.25 litres and a $ is .75 Euro; gas is roughly 1.2 Euro a litre)

Of that, about 2/3 is said to be taxes. That makes the "taxless" price about $2.25 a litre.
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According to Google, a gallon is 3.79 litres. That makes the €1.2/litre €4.54/gal. According to Yahoo, €1 is currently $1.552. That puts it at about $7.05/gal.
 
shanek said:


According to Google, a gallon is 3.79 litres. That makes the €1.2/litre €4.54/gal. According to Yahoo, €1 is currently $1.552. That puts it at about $7.05/gal.
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I stand corrected. My numbers were from memory. Thank you.

BTW if the $ going in that direction, TAM3 is going to be CHEAP :D
 
shanek said:
According to Google, a gallon is 3.79 litres.
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Actually it depends whether one uses the US dry gallon, US fluid gallon or the Imperial Gallon. A US fluid gallon is 3.79 liter. Since iain is in Britain, I wonder whether he's using the Imperial gallon instead, which is 4.55 liter. Considerably more. Wikipedia on this silly measurement nonsense.

Metric is starting to look better every milliday.
 
Earthborn said:
Actually it depends whether one uses the US dry gallon, US fluid gallon or the Imperial Gallon. A US fluid gallon is 3.79 liter. Since iain is in Britain, I wonder whether he's using the Imperial gallon instead, which is 4.55 liter. Considerably more. Wikipedia on this silly measurement nonsense.

Metric is starting to look better every milliday.
Click to expand...

Nobody in the USA uses 'dry' pints, quarts, or gallons anymore. That is merely of historical interest.

The US fluid gallon is the gallon always.
 
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