ICPA, 10 Alcap Ridge, Cromwell, Connecticut 06416  Tel 860-613-2041 Toll Free 866-521-ICPA  Fax 860-632-1122  website www.icpa.org
Contact:  Gene Guilford gene@icpa.org or Chris Herb chris@icpa.org
For Immediate Release  October 13, 2009

MEDIA ADVISORY ON GASOLINE PRICES

CT Has Second Highest Prices Due to CT Having the Second Highest Taxes

[Cromwell, CT] Yesterday the AAA issued its regular survey of gasoline prices around the region, pointing out a decline in prices of 21c per gallon.  Good news for the driving public.
 
The AAA release also pointed out that Connecticut had the second highest gasoline prices in the region.  The reason Connecticut has the second highest average gasoline prices in the region is due to the fact that Connecticut has the second highest gasoline TAXES in the region.
 
See > http://icpa.org/consumer_motor.htm  Absent the taxes on gasoline Connecticut has average retail prices that are at or lower than every state in the Northeast except New Jersey.
 
Here is the current breakdown of the average retail regular gasoline price in Connecticut

 

 

Connecticut Average Gasoline Prices - 10/13/2009
New Haven Average Wholesale / Regular Gasoline  $1.8473
   
Connecticut Gross Receipts Tax [7.53%] $0.1391
Connecticut Excise Tax $0.2500
Federal Excise Tax $0.1840
   
Total Cost Before Leaving New Haven Harbor $2.4204
   
Transportation from New Haven to local stations $0.0400
Credit Card Company Charge per gallon [2% of sale price] $0.0520
   
Cost Before Dealer Mark-up $2.5124
   
Dealer Mark-up to pay for utilities, payroll, property $0.2000
taxes, environmental compliance  
   
What The Retail Price Would Be With All Costs $2.7124
   
Actual AAA Connecticut Average Retail Cost $2.6000
10/13/2009  
 
**CT & NY use ethanol instead of MTBE as a oxygenate. As a result, blenders of gasoline with ethanol may apply for a 4.5¢ per gallon refund off the 18.4¢ per gallon federal excise tax.

 

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ICPA represents more than 564 Connecticut based independent businesses. These businesses employ 13,000 Connecticut citizens and supply the majority of our state's 1,600 motor fuels outlets and 350 heating fuels dealers. 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.