>How much of that is tax?
>
>
>>>Ok, the article you can pass on, but the chart shows it all:
>>>
>>>
http://www.msnbc.msn.com/id/18403950/>>
>>When I was driving home just now the local price was C$1.25 per litre, which at the current exchange rate works out to about US$4.16 per US gallon.
According to
http://www2.nrcan.gc.ca/es/erb/prb/english/View.asp?x=686&oid=1130 :
If Retail Price is C$1.25 / litre
Fixed taxes:
Federal Excise Tax: C$0.10
BC Provincial ("road") tax: C$0.145
BC Transit Tax: C$0.06
So, price including federal GST is 1.25 - 0.10 - 0.145 - 0.06 = 0.945/litre
Federal GST is 6.00%, so base price is 0.945/1.06 = $0.891/litre
Total taxes are 1.25 - 0.891 = $0.359/litre, or 28.7% of the total retail price
Today's exchange rate is about C$1.00 = US$0.90 so base price is
(C$0.891/litre) x (3.78 litres/US gal) x (0.90 US$/C$) = US$3.033 per US gallon.
By coincidence, that's about what the US average retail price is now ;)
Regards. Al
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