Friday, April 29, 2011

 

Chicago: City of the big gas prices

Illinois is one of a few states where sales tax also applies to purchases of gasoline. That means there's an additional 6.5% tacked on to the price per gallon.

On the local level, analysts say Chicago may be the only major city that imposes a flat tax, 5 cents a gallon, on the sale of vehicle fuel to a retailer doing business in the city. That's on top of a 6-cent-per-gallon tax levied by Cook County.

Lastly, as most states do, Illinois slaps a small tax on gas stored underground to help pay for the environmental impact.

"Add it all up at today's prices, and the privilege of living in Chicago costs you 50 to 60 cents a gallon," said Sykuta.

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