Gasoline Prices: How Much Do You Pay? How Much is Tax?

We know Bob Brinker says higher gasoline prices are not inflationary which disagrees with what Ben Bernanke says and what most of us consumers observe, so we won't debate it here.

(See: Bob Brinker & Ben Bernanke On High Inflation )

I am interested in what others are paying for gasoline around the country and how much of that is sales tax. Here in Taxifornia, the high prices on gasoline are great news for the government. A 20 gallon tank of gas is over $6 in sales tax!

Questions:

• What are you paying for gasoline?
• How much of that is sales tax?
• Do you know the other taxes?

Formula:

• Price before Tax x (1.0 + Tax Rate) = Final Price

so

• Price before Tax = Final Price / (1.0 + Tax Rate)

for an 8% tax rate:

• $1.00 = $1.08 / (1.0 + 0.08%)

Example:

• Los Altos, California on 4/26/08
  87 Regular gasoline $3.979 / gallon
  Sales tax rate 8.25%
  Before tax price $3.979 / (1.0825) = $3.676
  Sales Taxes per gallon $3.979 - $3.676 = $0.303
  Sales Taxes on 20 gallons 20 x $0.303 = $6.06
  .
  (So THAT Is how Arnold will try and balance our $16B deficit!)

Sales Taxes don't include the gasoline taxes!

Please post what you are paying for gasoline in our "Gasoline Prices" forum on facebook's "Investing for the long term" group.

Thanks