CT LEADS REGION WITH HIGHEST MOTOR FUEL TAXES - ALREADY

Gasoline and diesel prices continue to rise in our state, and across America. Here is background on the issue from ICPA. ICPA represents the majority of the local gasoline and diesel fuel distributors who own the majority of the service stations and convenience stores in Connecticut.

1. At a statewide average price for regular of $3.34 a gallon, local retailers have not passed along the full extent of their wholesale costs and other state operating expenses. If they had, the average would be $3.50 a gallon. See > http://icpa.org/motor_fuels/retail_gasoline_price.htm

2. If you remove state and federal taxes from the price of gasoline and diesel fuel, Connecticut's retail gasoline and diesel prices are the same as anywhere else in the Northeast. See > http://icpa.org/consumer_motor.htm  It's only after applying the highest gas tax and second highest diesel taxes in the Northeast do Connecticut's prices grow to the highest in the region.

3. Since September 1, 2010 the State of Connecticut has collected 4.8c per gallon in higher Connecticut Petroleum Gross Earnings taxes due to the higher wholesale cost of gasoline. 7.53% of an average of $1.94 wholesale cost on 9/1/2010 yielded 14.6c @ gal tax - versus - 7.53% of an average of $2.57 wholesale cost on 2/15/2011 yielding 19.4c @ gal tax. The Connecticut Petroleum Gross Earnings tax is in addition to the Connecticut Excise tax on gasoline of 25c per gallon and on diesel fuel of 39.6c a gallon.

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ICPA represents more than 576 Connecticut based independent businesses. These businesses serve more than 680,000 heating fuels consumers, employ 13,000 Connecticut citizens at the majority of our state's 1,600 motor fuels outlets and 600 heating fuels retailers. ICPA's offices are at 10 Alcap Ridge, Cromwell, CT  06416.  For more information about today's Press Release, contact Gene Guilford or Chris Herb.