Gas prices have reached peaks never seen before, but that’s not the case for oil.
“One of the reasons is the taxes are higher than they were back in 2008. So, the price of fuel that you see at the retail, there is not just the price of oil, which is the foundation, but also includes the additional tax. There's also additional regulations that have occurred since then, like in California, we now have a carbon trading tax.
“I think we might see our prices dip next week it could go down based on the lag from the price that jumped and dropped from $130 to $100. So, we might see a few cents go down but getting down to say $4 a gallon which we had a year ago or even below four," Hiatt said."I don't see that happening this entire year because of the current supply and demand issues in the marketplace."
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