Quote:
Originally Posted by intakexhaust
+1
The cooperation of big oil and gov. is pathetic. Gov. loses billions in tax rev' if the retail cost drops. They don't want to lose sight of that revenue, now would they?
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Taxes are levied against the gallon, not the total cost to the consumer. So it doesn't matter what the price is, they still get $.xx cents per gallon. Right now the federal gasoline tax is 18.4 cents per gallon. Diesel is 24.4. State and local taxes vary, but they also are levied by the gallon.
Paid $2.95 9/10ths this afternoon.
Now if you are talking corporate taxes, that is different.