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Gas below $4 a gallon

July 13, 2008 - Bill Speer
Is it a possibility that gas can be found below $4 a gallon?

If you head to Ohio it can, and last two days ago I filled my tank for $3.76 a gallon in Cleveland. While gas on the Ohio Turnpike hovered at just over the $4 mark, gas in Toledo could be had anywhere from $3.96 to $3.99 that same day.

Crossing the border back into Michigan, gas immediately rose to $4.11-$4.19, depending on what city you were in. I actually managed to get the last of the $4.11 gas at one station in East Tawas before they raised the price to $4.16.

One of the reasons for the lower price of gasoline in Ohio is the state taxes. But, that doesn't explain the total reason. For instance, looking to the API.org site - a trade association site representing the oil and natural gas industry - it listed the average taxes on a gallon of gasoline across the country as of July 1.

Michigan's average taxes amounted to 60.7 cents, while Ohio's was 46.4 cents, a difference of 14.3 cents. Thus, you can quickly see it wasn't the difference in taxes that was the main reason for the difference.

However, Michigan drivers are paying substantially more in taxes than most people across the country. Only four other states - California, Illinois, Rhode Island and New York have higher taxes. And, the average tax price being paid across the U.S. as of July 1 was 49.4 cents.

I don't know about you, but I would like to pocket that difference of 11.3 cents a gallon between Michigan's average and the country's average.

Trust me, when I found gas at $3.76 a gallon I was elated. And that, my friends, is what is really depressing about this story.

 
 

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