O’Reilly’s Gas Price Conspiracy Theory Is Just Hot Air
Posted in Main Blog (All Posts) on March 8th, 2011 5:44 am by HL
O’Reilly’s Gas Price Conspiracy Theory Is Just Hot Air
Bill O’Reilly pushed speculation that President Obama may be conspiring to keep the price of oil high in order to receive more federal revenue from “taxes at the pump.” In fact, the federal fuel tax is assessed at a per-gallon rate regardless of the price at the pump.
O’Reilly Suggests Federal Government Receives More “Taxes At The Pump” When Prices Increase
O’Reilly: Obama May Want High Gas Prices In Order To Receive More Revenue From “Taxes At The Pump.” From the March 7 edition of The O’Reilly Factor:
O’REILLY: The higher gas at the pump is, the more federal dollars, yeah, the more money the feds get. So I mean they’re — so I mean some cynical people are going, look Obama doesn’t want the price to go down because Washington is getting more money from the taxes at the pump. [Fox News, The O’Reilly Factor, 3/07/11]
In Fact, Federal Taxes At The Pump Do Not Increase When Prices Rise
EIA: Federal Motor Fuel Tax Is 18.4 “Cents Per Gallon” For Motor Gasoline. The Energy Information Administration’s chart on current “Federal and State Motor Fuels Taxes (Cents per Gallon)” lists the Federal tax rate for “Motor Gasoline” as 18.40 Cents per Gallon. [U.S. Energy Information Administration, March 2011]
Federal Excise Tax Is The Same “No Matter The Price At The Pump.” From FactCheck.org:
Federal taxes are a flat 18.4 cents per gallon of regular gasoline, no matter the price at the pump. [FactCheck.org, 4/11/08]
