Gas prices are once again at an all-time high with the average gallon costing $6.16 in California -- but it’s even higher in the Bay Area.
The federal gas tax is 18 cents a gallon. Meaning that filling up a 15-gallon tank would save you $2.70 for each fill up. “The government is going to fix something, hopefully,” said Kim.
Meanwhile, energy analysts say the White House released one million barrels a day from the federal oil reserves is helping keep prices from rising even more. Professor Severin Borenstein says the main factors continue to be the volatility around the Russian war in Ukraine and the price of crude oil. “The price of crude oil was even higher back in 2006 and 2007 than it is today, but refinery costs have also gone up in the meantime, due in part to inflation, but also due to the fact that a number of refineries shut down during the pandemic,” said Borenstein.It would give $400 to car owners for up to two vehicles. Some Republicans are still pushing to suspend the state’s 51 cent gas tax.
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