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Why aren’t gas prices dropping?

Posted on: 4:21 pm, July 2, 2013, by

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The flat 17.5 cents per gallon of gas tax has been replaced by a wholesale tax of 3.5 percent, which should reduce the price of gas by about 6 cents.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.