Gasoline consumption on the rise
December 2, 2014
After eight years of declining consumption, California’s gasoline purchasing rose 0.9 percent during fiscal year 2013-14, offering another sign of an improving economy, according to data released by the California State Board of Equalization (BOE) Tuesday.
“Gasoline consumption increased for four consecutive quarters, even as prices were variable, reflecting California’s economic recovery,” Board Member Betty T. Yee said.
In the fiscal year 2013-14, Californians consumed 14.574 billion gallons of gasoline, a 0.9 percent increase from 14.444 billion gallons used in fiscal year 2012-13. California’s average price of gasoline was $3.92 per gallon in the fiscal year 2013-14, which is a decline of 2.5 percent from the average price of gasoline of $4.02 in fiscal year 2012-13.
In fiscal year 2013-14, BOE gasoline revenue estimates for excise and sales and use taxes came in at $1.651 billion for sales tax and $5.759 billion for excise tax.