Why aren’t gas prices dropping?
On July 1st, the new state gas tax went into effect.
The flat 17.5 cents per gallon of gas tax has been replaced by a wholesale tax of 3.5 percent, which should reduce the price of gas by about 6 cents.
So why didn’t we see the changes immediately?
Officials say the gas currently being sold at the pump was bought before midnight on July 1st. So it will take a few days before the new gas makes its way into the system.
That means one station could see a drop in prices while across the street, things haven’t changed.