Gas prices are expected to rise during the summer. While the tax rate will remain fixed per gallon, would it do any good if some of those taxes were possibly eliminated?
"As a general rule, the taxation law of gasoline in the United States is so much less than anywhere else in the world. I'm not sure how much that would do in lowering our gas prices," Andreas Rauterkus, UAB Assistant Finance Professor said.
The federal tax rate is set at 18.4 cents per gallon. Alaska has the lowest gas prices in the country, Connecticut has the highest. Alabama is among the lowest. Rauterkus says don't expect that to change, especially in an election year.
"It's not going to happen. It's an idea I don't see happening for that no matter what," Rauterkus said.
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