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Gas Prices Falling Sharply All over the U.S. (Except for Hawaii)
Submitted by HPI on Sat, 10/25/2014 - 00:08
Hawaii Political Info introduction: A Forbes article shows gas prices falling dramatically all over the U.S., but Hawaii is dead last in the percentage the price a gallon of gas has fallen. Hawaii's price is $4.07, the only state where gas is over $4, while across the U.S. prices are considerably lower, all the way down to $2.77 per gallon in Missouri.
A portion of Hawaii's higher gas price is the hidden taxes included per gallon: 66.29 cents compared to Missouri's 35.7 cents. The national average is 49.2 cents. These taxes proportionately affect more heavily the poorest among us who drive cars, with more and more having to give it up.
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Forbes
October 22, 2014
Thanks to falling oil prices, America’s motorists are enjoying gasoline prices about 20 cents per gallon cheaper than this time last year. The big move has come since July, with prices down about 15% nationwide — or nearly 50 cents — to an average $3.14 a gallon, according to data from Gasbuddy.com (find your state on our map below). Naturally, this has a stimulus effect on the U.S. economy — saving us about $100 billion in annualized fuel costs, according to economist Ed Yardeni. That works out to about $300 in annual fuel savings for every American. Just in time for the holiday season.
The price of gas has fallen fastest in Missouri, down 18% to $2.77 a gallon — which is also the cheapest gas in the nation. On the flipside is Hawaii, which suffers the most expensive gasoline at $4.07 a gallon, and has also seen the smallest decrease in price during that time, just 6%.
Links:
Gasoline Taxes by State [American Petroleum Institute]
Car Buyers Beware, Cheapest And Most Expensive States For Unexpected Fees [Forbes] Jun 29, 2014
The Best and Worst States to Own a Car [Forbes] Jul 13, 2011
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