Tag: supply and demand

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Gas tax revenue in NJ was down 23% last month

gas station bike

the staff of the Ridgewood blog

Ridgewood NJ, New Jersey’s gas tax went up yet again ,this time by 4.3 cents per gallon. Gas tax revenue in NJ was down 23% last month and in 10 of the last 11 months. Some NJ gas stations are reporting their business is down by 25% Who is winning while New Jersey is losing? According to AAA Mid-Atlantic – we should look to our neighbors in Pennsylvania & Delaware.

According to a report issued by the American Automobile Association – Mid Atlantic (AAA) we should look to our neighbors in Delaware and Pennsylvania.

According to data from the Oil Price Information Service (OPIS) and AAA, the percentage of taxable gasoline sold in New Jersey (out of all taxable gas sold in New Jersey, Pennsylvania, and Delaware) dropped from an average of 43.68% to 41.98%, about 17.7 million gallons less per month in 2017 than in 2016.

Meanwhile, the amount of taxable gas sold in Pennsylvania and Delaware both rose in 2017, an average of 7.48 million gallons a month in Pennsylvania more than the average amount of gas purchased in 2016 and more than 208,000 gallons a month in Delaware.

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Why this could be the last week for cheap gas in N.J.

gas tax nj

By Larry Higgs | NJ Advance Media for NJ.com
on February 20, 2017 at 8:32 AM, updated February 20, 2017 at 11:15 AM

This week for gas prices might be like the last hours of a great party that you wish could last longer, but you know is starting to wind down.

On Friday, the average price for regular in the state was $2.32 a gallon, but discount stations ranged between $2.07 and $2.09, GasBuddy.com reported. An average price of $2.20 or less wasn’t hard to find.

There are two factors that drivers can thank for keeping prices low at the pump — lousy demand for gas and tremendous supplies of it. But low gas prices aren’t going to last much longer, experts said.

https://www.nj.com/traffic/index.ssf/2017/02/why_this_could_be_the_last_week_for_cheap_gas_in_nj.html#incart_river_home

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Obamacare’s Economic Assumptions Collapse

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By Andy Puzder
August 29, 2016

Economic reality is making it increasingly obvious that we are in the midst of Obamacare’s long anticipated death spiral. Most recently, Aetna joinedUnitedHealthcare and Humana as the third of the “big five” insurance firms to announce major cuts to its Obamacare exchange business.

For insurers, it’s simple math: Premiums collected must exceed claims paid. If too few healthy, low risk individuals enroll to offset the costs of insuring unhealthy, high risk individuals, the math doesn’t work. This imbalance forces insurers to raise premiums on the low risk individuals who do enroll to cover the costs of insuring high risk individuals. The rising premiums cause even more healthy individuals to drop coverage – resulting in what has been called a death spiral.

https://www.realclearpolitics.com/articles/2016/08/29/obamacares_economic_assumptions_collapse_131637.html