Document text
0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Bear Creek Greenway to link to Highway 62 ... More thunderstorms expected ... Medford airport sets all-time record for passengers ... Bear Creek Greenway to link to Highway 62 ... More thunderstorms expected ... Medford airport sets all-time record for passengers ... Why Oklahoma City gets $2 gasoline before the rest of us Of all the filling stations in all the United States, $2 gasoline showed up at Oklahoma City's first. Comment By Bloomberg News MailTribune.com By Bloomberg News Posted Dec. 4, 2014 at 11:59 AM By Bloomberg News Posted Dec. 4, 2014 at 11:59 AM » Social News Of all the filling stations in all the United States, $2 gasoline showed up at Oklahoma City's first. Why? Three words: Location, location and taxes. About 70 miles away, in Cushing, Oklahoma, lie the nation's biggest stockpiles of oil, just a short pipeline ride away from the state's refiners. Neighboring Texas, home to the most fuel- making capacity in the United Statese, also feeds the market. And it doesn't hurt that the state has the fourth-lowest fuel taxes in the country. "Let's just say there is no supply issue there," Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization Inc., said by telephone from Chicago. "You combine that with some of the lowest taxes in the country, and they just had the best opportunity to get under $2." An Oncue Express station in Oklahoma City sold gasoline for $1.99 a gallon Wednesday, becoming the first one in the U.S. to drop below $2 since July 30, 2010, according to GasBuddy. Two stations nearby quickly lowered their prices and others are bound to follow, the online gasoline price-tracking company said. The plunge in fuel prices, dragged down by a global glut of oil, comes as policy makers from Michigan to New Jersey face increasing pressure to reform their gasoline taxes. The federal highway and mass transit accounts neared insolvency earlier this year as more fuel-efficient cars and less driving shrank tax- generated funding. The 18.4 cents-a-gallon federal gasoline levy hasn't been raised since 1993. Oklahoma's gasoline taxes were about 35.4 cents a gallon as of Oct. 1. Alaska had the lowest at 30.8 cents a gallon, followed by New Jersey and South Carolina. As of Wednesday, Missouri was home to the cheapest gasoline prices, averaging $2.438 a gallon, and Hawaii had the most expensive at $3.849. The national average was $2.438, down 95 cents from this year's peak. Gasoline stations in the South, where both taxes and the costs of producing and delivering gasoline are low, are the ones most likely to fall under $2 a gallon, Andy Lipow, president of Lipow Oil Associates in Houston, said by telephone Nov. 28. "We have plenty of gasoline in Houston," Lipow said. "There are a number of markets here that are likely to see stations at $1.99 a gallon." By Bloomberg News MailTribune.com By Bloomberg News Posted Dec. 4, 2014 at 11:59 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501