Comment Re:$5? that's nothing (Score 1) 1205
Most of the price of your fuel is in taxes. The US Federal tax on gasoline -which goes to pay for maintenance on the the Interstate highways- is somewhere around eighteen cents a gallon and hasn't changed in thirty-something years. States also have individual sales taxes that are a fixed amount or a fixed percentage of the sale price -with Florida being the highest (with a sliding scale) the last time I bothered to look.
The root cause of the increase in the price of oil and gasoline is speculation by large banks, brokerage firms and commodities traders. Most of these 'traders' never take actual delivery of the product. If the Obama administration would get off its ass and re-regulate the commodities markets to prevent all the 'paper trading' of commodities, then the price of oil and gasoline would drop by fifty percent and we wouldn't be talking about this.
The root cause of the increase in the price of oil and gasoline is speculation by large banks, brokerage firms and commodities traders. Most of these 'traders' never take actual delivery of the product. If the Obama administration would get off its ass and re-regulate the commodities markets to prevent all the 'paper trading' of commodities, then the price of oil and gasoline would drop by fifty percent and we wouldn't be talking about this.