Thursday, January 1, 2015 – 11:00 a.m.
California continues down the path of the overall highest taxed state in the nation. A nickel here, a dime here, a quarter-cent there!
It all adds up.
Thursday morning consumers woke up to unleaded gas prices ten cents per gallon higher than yesterday, courtesy of California’s new carbon tax.
The small bump is something most won’t notice.
Gas prices on tracking website www.gasbuddy.com already reflect the price climb.
But crude oil prices dropped again this week. That price drop will roll into retail pump prices by late next week.
Thursday’s rise is an effect from the new state tax on fossil fuels and other carbon pollution causing industries. In this case the tax is being assessed against the gasoline refiners, who in-turn are passing the cost to consumers. If gas prices were still north of four dollars per gallon, the increase would have been about twenty cents.
And yes, the tax will adjust year-to-year.
Twenty-Five percent of the revenue being generated will go to Governor Jerry Brown’s bullet train.
The tax, assessed by the California Air Resources Board, was never approved by voters.
Expect this new moneymaker to be abused in future years, just like every other California ploy to squeeze consumers.