Fodder For Hearings
With all the screaming about gasoline pump prices, the calls go forth for the heads of oil company personnel, with the charges of price gouging flying to and fro.
As long as there are going to be investigations into what makes a gallon of gasoline cost as much as it does, let's hope the Congress makes sure to consider the costs government brings to bear. Here's the deal for Indianapolis:
Current price per gallon for regular, unleaded gasoline in the Indianapolis area = $2.849
Federal Gas Tax = $0.184
State Gas Tax = $0.180
State Sales Tax = $0.171
Inspection Fee = $0.008
Total Taxes & Fees = $0.543
Current price per gallon for regular, unleaded gasoline in the Indianapolis area without government add-ons = $2.306
If excess profits are perceived as a problem, then the amounts taken by government ought to be seen as twice the problem, since they are greater than the profits taken by oil companies.
Thanks to Gregg Puls for the numbers!