How Much Of Your Gas Price Is Actually Taxes

(KMDL-FM) The current military action in the Middle East and all the assorted fallout that has come from that conflict is listed as the main reason that you and I are paying more for gas this year than we were paying for gas last year.

According to the American Automobile Association, the current price for a gallon of regular fuel nationwide is $4.36 a gallon. Drivers in Louisiana are not paying nearly that much. Our average price for a gallon of regular gas is listed at $3.94 by Triple-A.

What Is the Difference in the Price of Gas From This Year to Last Year?

If you're wondering, in Louisiana we are paying $1.23 more per gallon for gas this year than we were paying for gas at the same time last year. But if there is a silver lining, gas prices are down .03 cents from last week.

We know international conflicts, politics, weather- such as a hurricane in the Gulf- can all play a part in affecting how much we pay for gas. But perhaps the biggest influence on our gas prices comes from who or what we vote for on election day.

red love neon light signage — Photo by Jon Tyson on Unsplash

We say that because a lot of the money you're spending on gas isn't putting a drop of fuel in your tank. It's all about the taxes, and we've got more than plenty of them to go around.

How Much Money Is Spent on Taxes With Each Gallon of Fuel We Purchase?

The biggest player among the payers at the pump would be the State Motor Fuel Excise Tax. That adds .20 cents to every gallon of gasoline you buy in Louisiana. It is collected by the Louisiana Department of Revenue.

The next $.16 cents of what you're paying for that isn't fuel is the money for the Transportation Trust Fund. This is the fund our state uses for road construction, maintenance, and day-to-day operations and projects for Louisiana's Department of Transportation and Development.

oil rig — Photo by Zach Theo on Unsplash

The next tax that you should be aware of is the $.04 cents per gallon "TIMED" tax. TIMED is an acronym for Transportation Infrastructure Model for Economic Development. These funds are used to pay for specific highway and bridge projects.

There is also a Federal Excise Tax that is collected at $.0184 cents per gallon. This money is used to support the federal highway system via the Federal Highway Trust Fund.

There is also a tax of $.00125 per gallon for the Louisiana Petroleum Products Inspection Fee. This tax is assessed by the state on refined hydrocarbon mixtures and petroleum products removed from terminal racks.

The Final Price - Here's How Much Of Every Gallon You Buy That's Not Fuel

a close up of a person looking through a glass — Photo by Monika Thoms on Unsplash

When you add up all the numbers for every gallon of gas you buy, about .40 cents does nothing to move your gas gauge. Granted, it is nice to have "nice" roads and "safe" bridges to operate our vehicles on, but still, that kind of stings.

It could be worse; you could be driving a diesel vehicle. The price of diesel nationwide is listed at $6.28 per gallon nationwide. In Louisiana, the cost for a gallon of diesel is listed at $5.84; those prices are courtesy of the American Automobile Association.

And if you do have to drive, you might want to avoid these intersections. Okay, you can't, because all of our roads go through those intersections; just don't crash, okay?

The 10 Intersections in Lafayette That Average The Most Crashes Every Year

Why does traffic on Lafayette roads always seem to slow down on certain roads? It's probably because of a crash. Some roads have more than their fair share. But which roads have the most crashes? We took a look at the stats and created an annual average of crashes at each interchange. Here are 10 intersections in Lafayette where you're most likely to be involved in having a crash.

Gallery Credit: Bruce Mikells