According to a 2011 report by the Tax Foundation:
North Carolina’s gasoline tax is variable and currently stands at 30.2 cents per gallon, which ranks 14th highest nationally.
In February, the federal excise tax on gasoline added 18.4 cents per gallon on top of state taxes. Raising prices still higher are government-induced scarcity from not drilling-baby-drilling and costs of compliance with government regulations.
The president therefore declared, “We will end manipulation of gas prices. Naturally, rather than going after government for its bureaucracy fees, regulations, and anti-market policies, the president is demonizing speculators for their role in averaging out market spikes.
