Gas excise tax going up 10% July 1st

why-are-gas-prices-going-upIn February, the California Board of Equalization voted in favor of raising the excise tax on a gallon of gas by 10% or 3.5 cents per gallon. The total amount of State and Federal tax included in a gallon of gas in the State of California is 72 cents; the highest in the nation. Alaska is the least-taxed gallon of gas at just over 26 cents per gallon according to the American Petroleum Institute. Read the full article from the San Diego Union Tribune here.

For most of us, pain at the pump is mandatory. We would be better off not even looking at the receipt. What difference does it make? We’re going to pay whatever it costs to filler-up anyway!

Nobody wants taxes to go up. It gives consumers a bad feeling of increased expenses, politicians have to fight hard to justify their increasingly expensive existence and overall, it makes us feel a bit like a failure. As if we can’t make due with what we already have…

Anytime you get upset about how much you spend on a gallon of gas, just think about the U.K. where the average cost per gallon is $9.85! Of course, it should be noted that $5.92 of that is TAX and goes right to the Government. That’s 60% of the cost of a gallon!  In California, we’re still far better off…

Today’s Mr. Credit Radio Show podcast: 6-28-13 Mr Credit Full Show



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