Shorter queues at the pump, more tax
US states are rolling out fresh gasoline taxes at a time when US road fuel demand has already gone flat
For the first time in 14 years, the US state of Ohio will hike gasoline taxes this summer, joining a wave of similar increases from Arkansas to Alabama. Long denied sufficient funding for road repairs from the federal government in Washington, state-imposed gasoline taxes are meant to plug budgetary gaps, but may have a knock-on effect by further constraining the growth of US gasoline demand. For the second year in row, US gasoline consumption failed to make any progress in 2018, flattening out to just under 17.2 quadrillion Btu. More broadly, despite a recovery from the deep lows of the Great Recession, US gasoline demand still sits just below the all-time highs, set far back in 2006, of 17
Also in this section
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!