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Local Headlines - Gas Prices

ACCE Webmaster on Thursday, August 7, 2008 at 7:25:53 pm

Despite the price per barrel of oil leveling and prices at the pump slowly decreasing, gas prices are still making headlines across the country.

  • Tax revenue from gas and car sales are down reports the Raleigh News and Observer.  High prices at the pump have prompted conservation among consumers, and the decrease in consumption means less money to fund roads and bridges.  Gas and automobile taxes supply over half of the NC Department of Transportation's $3.9 billion budget.
  • Gas prices have spurred action on alternative fuels in Georgia.  According to the Atlanta Journal Constitution a team of high ranking state officials, including Lt. Gov. Casey Cagle, are rallying for energy independence and want to put Georgia at the forefront of alternative fuel and low cost energy.
  • Just when you thought high gas prices were hurting your economy, the Seattle Times reports the dual impact that $120 per barrel for oil is having in Alaska.  While the state treasury is flush with revenue from high oil prices, residents in remote towns across the state are facing $7 per gallon for gas in the near future and soaring prices for food.  A 10 lb. bag of potatoes in Barrow currently goes for $14.99.
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