![]() As of July 1, 2022, state taxes and fees on gasoline averaged 31.67 cents per gallon. The federal tax on motor gasoline is 18.40 cents per gallon, which includes an excise tax of 18.30 cents per gallon and the federal Leaking Underground Storage Tank fee of 0.1 cents per gallon. Gasoline taxesįederal, state, and local government taxes also contribute to the retail price of gasoline. ![]() oil production in the past several years have helped reduce upward pressure on oil and gasoline prices. Many factors affect crude oil prices learn about seven major factors that influence crude oil prices in What Drives Crude Oil Prices? Increases in U.S. The cost of crude oil is the largest component of the retail price of gasoline, and the cost of crude oil as a share of the retail gasoline price varies over time and across regions of the country. Retail pump prices reflect these components and the profits (and sometimes losses) of refiners, marketers, distributors, and retail station owners. Energy Information Administration, Gasoline and Diesel Fuel Update
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