Omaha gas down 10 more cents in 5 days $2.69

[Omaha Steve]

Some states that tie the gas tax to the price of gas are losing tax $ for roads. Don't we already have enough infrastructure problems?

And with a $1 off from our Kroger's card....

[Jesus Malverde]

1. Interesting...

Nebraska, unlike any other state, ties one small part of its gas tax to the state’s transportation spending. (The other two parts of the tax are a flat 10.3 cents-per-gallon excise tax and one tied to gas prices.) While making an explicit connection between the tax and what it’s supposed to pay for is a big step toward ensuring adequate revenues, Auxier notes that Nebraska’s doesn’t go far enough. “The third component is small (currently 1.9 cents per gallon), and the legislature is careful not to approve transportation spending that could trigger a large rate increase,” Auxier wrote. “As a result, Nebraska’s 27.3 cents per-gallon tax rate is only 2.7 cents higher than it was in 1993.”

http://usa.streetsblog.org/2014/11/13/lesson-from-the-states-index-your-gas-tax-to-something-anything/

[NYC_SKP]

2. Steve, details please: IIRC, state taxes are "per gallon"; not affected by total price.

Range from about 33¢ to 68¢ per gallon., including federal ~18¢/gallon. http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States

Nebraska is 26.4¢ plus 18.4¢ = 44.8¢/gallon.

Taxes are per gallon, not affected by total price.

If anything, lower prices = more sales = more revenue for infrastructure.

[Omaha Steve]

3. Probably my fault

NE gas tax gets adjusted by a separate board. So the legislature (only meets 60 or 90 days every other year) isn't involved.

I thought there were some oil states that tied taxes to the price. I could be wrong.

OS

[NYC_SKP]

4. No problemo, I think they adust twice per year.

Here's the current structure: http://www.revenue.nebraska.gov/fuels/fuelrate.html

Here are the history rates: http://www.revenue.nebraska.gov/fuels/fuelrate.html

They've been pretty stable over the years, little dips of a penny, usually less.

[Lil Missy]

5. It's $2.53 across the river in Council Bluffs

[yeoman6987]

6. The lower the better

This helps working and poor. I am all for letting them have as much in their pocket as possible. This is incredible news. I heard it may be below 2 dollars soon.

[Fumesucker]

12. Short term it's a good stimulus for the economy and yeah it's good for the poor of whom I am one

On the other hand anyone who has invested in alternative energy is about to take a major haircut, which is what this is all about, destroying the impetus to develop alternatives to fossil fuel energy.

The oil producers hate the idea of society weaning itself off the addiction to oil and will do anything, including losing a lot of money in the short term, to keep us sucking on that sweet, sweet crude.

Markedly lower energy costs should lead to consumer prices falling, anyone want to take bets on whether you will be paying less for groceries?

[Warpy]

7. $2.24 here in north central NM

and no sign that it'll stop dropping any time soon.

They won't lose a dime in tax money. After all, that money is a constant per gallon take. It's more a case that they'll gain tax money for roads as people gas up the dinosaurs and do some day trips or just experience the relative luxury of driving to work and the supermarket instead of relying on mass transit and leaving the car parked because they can't afford to feed it.

I might even see young punks driving their H2s to and from work at the air base. Now those will generate a windfall for road repair all by themselves. RVers will take real trips instead of moving from campground to campground in a small area.

Anybody who tells you that there will be less gas tax collected if gas prices go down is a liar or a fool. They do the opposite.

[truegrit44]

8. I was told $1.99 in Oklahoma!

Here in MO it is $2.30

[Sherman A1]

9. Just went back up here in STL

was down to $2.24 and then jumped to $2.49 on Thursday.

[Cha]

10. K

[hobbit709]

11. I filled up Wednesday for $2.29

Same station is $2.27 today.