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State gasoline, diesel consumption increase

Posted: January 30, 2014 12:21 p.m.
Updated: January 30, 2014 12:21 p.m.
 

Sacramento – California’s gasoline consumption increased 0.9 percent, while diesel consumption increased 4.0 percent in the third quarter of 2013, according to fuel tax data released George Runner, Second District Member of the California State Board of Equalization (BOE).

“Lower gas prices are leaving more money in consumers’ pockets and boosting economic activity,” said Board of Equalization Member George Runner. “That’s good news for California.”

The BOE’s state taxable gasoline gallons report reveals Californians consumed 3.71 billion gallons of gasoline in the third quarter, a 0.9 percent increase from 3.68 billion gallons used in the third quarter of last year. The average price of gasoline was $3.99 per gallon in California during the third quarter, which is a six cent decrease from the average price of $4.05 per gallon in the third quarter of 2012. Nationally the average price of gasoline in the third quarter was $3.64, according to the Energy Information Administration. The BOE estimates statewide gasoline tax-related revenues for the third quarter of 2013 are $422 million in sales taxes and $1.5 billion in excise taxes.

The BOE’s state taxable diesel gallons report shows California’s diesel fuel consumption increased 4.0 percent in the third quarter to 705 million gallons, compared to 678 million gallons during the third quarter of last year. In California, the average price of diesel fuel in the third quarter was $4.06 per gallon, which is a 14 cent decrease from the average price of $4.20 in the third quarter of 2012, while the nationwide average price of diesel fuel was $3.87. The BOE estimates statewide diesel fuel tax-related revenues for the third quarter of 2013 are $251 million in sales taxes and $82 million in excise tax.

For more in-depth analysis of California gasoline consumption trends, see the BOE Economic Perspective.

For the most recent figures from BOE, visit Fuel Taxes Statistics and Reports: www.boe.ca.gov/sptaxprog/spftrpts.htm.

Note: The Signal delivers press releases from reliable sources to provide up-to-the-minute information to our website readers. Information from these releases has not been vetted by The Signal news room. It may appear subsequently in news stories after it has been vetted.

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