Hey, Floridians! Fill Your Gas Tanks TODAY
October 31, 2022 6:19am
Gasoline prices are going to skyrocket nationwide after the election. But they're going up 25 cents in Florida tomorrow. So be sure to top off your tank today.
Did you notice the price of gasoline went down a 25 cents per gallon in Florida on October 1st? Well, it did. And it goes back up 25 cents tomorrow. Back in March, the Florida legislature passed HB 7071 which was a sweeping tax cut bill that included a one month fuel tax holiday for gasoline purchased in the state. Governor DeSantis signed that bill into law in May.
If you drive a vehicle that takes diesel, well, the Florida legislature didn't include diesel in its fuel tax holiday. But for those of you who've bought gasoline in Florida this month, you've saved 25 cents per gallon off what it would have been without the tax holiday. You may have noticed that the price has creeped back up about a quarter since October 1st, but it's still a quarter lower than what it would be otherwise. That upward creep in prices was not the retailers pocketing the fuel tax savings; that was specifically prohibited in the legislation. The rise in gas prices since the beginning of the month is due to a market driven price increase that would exist whether Florida suspended its 25.3 cent per gallon fuel tax or not.
Although I have saved that tax money at the pump this month, and I will top off my tank today, I did not - and still don't - support the fuel tax holiday. This month's gasoline fuel tax holiday collectively saved drivers in Florida $200 million. And while that's nice I suppose, it also deprived the state of $200 million in revenue it could have used to improve Florida's transportation infrastructure. I would have preferred to continue paying that quarter per gallon and seen our roads fixed.
But I'm not a fool. If you offer me easy and automatic savings, I'll take it. I just think it's bad policy. And no, that does not make me a hypocrite.
I recommend you fill your tank before the gas tax holiday ends tonight at midnight. If you buy 20 gallons, you'll save $5.00. You're welcome.