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DOE: US gasoline taxes dropped below 20% of total price in 2015

Fuel taxes in the United States in 2015 accounted for 19% of the price of a gallon of gasoline, down from just under 30% in 1990, according to figures compiled by the US Department of Energy (DOE).

By comparison, in France, Germany, and the United Kingdom, taxes accounted for more than half of the total price for both 1990 and 2015. Japan’s gasoline taxes were nearly half of the price in those years. In Canada, taxes were just above one-third of the price of gasoline in 2015, down from 40% in 1990.

Those average prices and taxes were collected by the International Energy Agency.

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Gasoline prices and taxes for selected countries, 1990 and 2015. Source: DOE. Click to enlarge.

In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) projects That US gasoline consumption will reach a record high of 9.31 million b/d in 2016; the previous record was 9.29 million b/d set in 2007.

Comments

HarveyD

Consumption at a record high of 9.31 million b/d in 2016 vs 9.29 million b/d in 2007 could indicate another major drop (-40% to -50%) in the Stock Markets by end of 2017?

Would one or two interest rate rise and/or a major debt bubble burst be the main triggers?

A significant progressive rise in carbon or fuel tax (in USA) + a very minor change in interest rates could delay the next Market burst but they are not in the wind for 2017.

mahonj

They really should bring in higher gas taxes in the US, especially when oil is so low.
You could raise billions of dollars and spend it on infrastructure or health or education (or just keeping the deficit down a bit).
A 10c / us gallon tax increase would raise an additional $14.3B / year.
Well, it is a start.

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