The taxes are not a percentage of the price of gasoline, but an “absolute figure” and thus the taxes are the same - regardless. In other words, the revenue from taxes will remain unchanged even if there is a glut of oil. In fact a glut of oil will probably increase the “take” for gasoline, since people will drive a lot more as a result of the glut ... :-) ...
I’d be willing to bet if gas prices dropped to say $1.50 a gallon the states and the feds will add enough tax to bring it back up to $3.50 a gallon.
K - so the states will still get their tax per gallon regardless of selling price.
There are a lot of hidden taxes on oil and the total from ground to pump is78%.