written by
Matthew Rensberry
on 2022-11-11
Gas prices
Today, the price of gas in the USA is: $3.794. Here in Florida, it is $3.575.
How does this break down?
Federal Excise Tax:
- 18.3 cents/gal
- Leaking Underground Storage Tank cost of 0.1 cents per gallon
Florida Taxes:
- Excise (8th highest gas tax): $0.04 / gallon
- Addl. Tax: $0.24 / gallon†
- Total Tax: $0.28 / gallon
State taxes cover a wide range of rates, including
- excise taxes
- environmental taxes
- special taxes
- inspection fees
County and City taxes:
(County and municipal taxes are not included in state taxes)
- Orange County: 0.5% sales tax
- Orlando: 0
Typical Breakdown:
According to AAA:
- Federal and State Taxes: 15-25%
- In most areas, state and federal excise taxes amount to about 13% of the cost of a gallon of gas
- Distribution and Marketing: 10-15%
- Refining: 15-25%
- Crude oil: 40-60%
Some Notes
- The typical markup on a gallon of gas is 30 cents!
- Retailers’ net profits are roughly 10 cents per gallon after expenses, including credit card fees, which can be 10 cents or more per gallon.
- For our vehicle's typical 15 gallon fill up, the gas station is only making $1.50!!!
References:
How to save money on gasoline
- Shopping choices
- Use price-comparison apps to find the cheapest gas stations along your normal driving routes or when traveling.
- Pay with cash to avoid credit card fees or use a credit card with fuel rewards.
- Join grocery store and/or gas app fuel *rewards programs and use them whenever possible.
- Check the owner’s manual for the recommended minimum octane gas for your vehicle and use it. Only use premium grade if your vehicle’s manufacturer requires it.
- Fill up early in the week as gas prices tend to be lowest on Mondays and Tuesdays.
- Driving habits
- Plan your routes to minimize driving time. Do errands close to home or work.
- Carpool with friends and co-workers with similar schedules.
- Reduce idling time when leaving or waiting.
- Use cruise control on highways and only when reasonable and safe.
- Reduce the use of the A/C by using a sun shield or parking in the shade. Open windows whenever possible when driving below 30 mph.
- Slow down and follow the speed limit.
- Brake and accelerate smoothly. Whenever possible, coast to glide to a stop.
- Adjust your speed to time traffic lights to minimize wasteful acceleration and braking.
- Remove excess weight from your vehicle.
- Vehicle maintenance.
- Buy the most fuel-efficient model in your preferred vehicle class or drive the most fuel-efficient vehicle of those you already own.
- Stay up-to-date with your vehicle’s service recommendations. Don’t ignore the “Check Engine” light.
- Check your tire pressure often, especially before long road trips. Most mechanics will check tire pressure for free.
- Be sure your gas cap seals properly and replace it as needed.
- Remove racks and other roof cargo that create wind resistance, reducing gas mileage.
- Change your vehicle’s oil and use the correct grade of oil recommended for your vehicle.