Nearly 3 months ago when I wrote the original Raise the Gasoline Tax diary, the average price of gasoline stood at $1.929.
After bottoming out at 1.616 per gallon in December however, gasoline prices have risen 20% to $1.965 and are threatening to pass $2 a gallon again.
The decline in the price of gasoline from $4.17 to the current $1.965 amounted to a defacto tax cut worth hundreds of billions to American drivers across the nation. Those hundreds of billions were previously being sent overseas to nations like Saudi Arabia, Venezuela, and Russia. Those countries do not have our best interests at heart and were asserting themselves against us in bolder and bolder ways until the recent decline.
It's long past time to use this opportunity to strengthen ourselves; this calls for shared sacrifice from all of us.