A picture is worth 1,000 words ... especially in Rogers Park.
Why gas is so much higher in Chicago vs other cities.Price of gas in Chicago, the nation's third-largest city, are being inflated by a litany of taxes that add an estimated 60 cents per gallon to the retail price, according to Dave Sykuta, director of the Illinois Petroleum Council, an industry group."Even when prices are lower, Chicago is always in the top three," he said. "And that's because of the taxes."Just as in the other 49 states, drivers in Illinois are subject to a federal excise tax of 18.4 cents a gallon for gasoline.In addition, most states have an excise tax on gasoline, which ranges from a low of 4 cents a gallon in Florida, to as much as 35 cents in California. In Illinois, the excise gas tax is 19 cents a gallon.Illinois is one of a few states where sales tax also applies to purchases of gasoline. That means there's an additional 6.5% tacked on to the price per gallon. On the local level, analysts say Chicago may be the only major city that imposes a flat tax, 5 cents a gallon, on the sale of vehicle fuel to a retailer doing business in the city. That's on top of a 6-cent-per-gallon tax levied by Cook County.Lastly, as most states do, Illinois slaps a small tax on gas stored underground to help pay for the environmental impact."Add it all up at today's prices, and the privilege of living in Chicago costs you 50 to 60 cents a gallon," said Sykuta.
You might find this interesting. The hidden cost of higher gas prices on ABC Nightline.The average cost of gasoline is now at a two-and-a-half year high with talk of a possible $6.00 a gallon gas this Summer. Speaking in Reno Nevada yesterday, President Obama warned that price gouging on gas sales would be punished. But the worst part about the high gas prices that your seeing everywhere may the prices you don't see. The hidden costs for things like shipping that increase what you pay for everything from flowers to food. - Terry Moran
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