Gasoline consumption increases in Tennessee
Tennesseans continue to defy reported national trends showing people driving less due to gas prices. According to July state tax revenue reports issued today, Tennesseans consumed 11.35% more gas in May than in April of this year and 7.85% more gas in May 2008 than in May 2007. The one month increase amounts to 26,675,570 more gallons of gas purchased.
State gas taxes are $0.214 per gallon. April gas taxes collected in Tennessee came to $50,285,000. That’s 234,976,635 gallons of gas purchased in April 2008 in Tennessee. May gas taxes collected came to $55,994,000 or 261,654,205 gallons of gas purchased.
It’s important to note that the monthly state tax revenue reports are for taxes collected the month prior to the report on money spent by the consumer the month before that. If I bought gas in April, businesses paid the state taxes in May, and they were reported to the public in June.
