"Oklahoma's average price of a gallon of regular is $3.40 now, according to GasBuddy. By contrast, the state with the highest prices is California at $5.86, which is 72% higher than Oklahoma's."
"The key to low prices in the state is not one regularly realized. State gas taxes vary widely. The national average is about $.40 per gallon. In Oklahoma, it is $.20."
"As oil prices rise, one option to give drivers relief is to cut these taxes at both the federal and local levels. In California, this would cut the price by nearly $1 a gallon."
"The average American household spends about $2,500 a year on gas. The current surge in oil prices adds about another $1,000. Households do not have a ready way to get that additional money."
Oklahoma's average gas price is $3.40 per gallon, significantly lower than California's $5.86. Proximity to refineries and lower state gas taxes contribute to this difference. Oklahoma's gas tax is $0.20 per gallon compared to California's $0.681. Cutting gas taxes could provide immediate relief to consumers, but most tax revenue funds road repairs. Rising oil prices increase household gas spending, impacting consumer spending and potentially leading to recession. The gas tax remains a key factor in lowering prices nationwide.
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