Theoretical Floor For Price Of Gasoline In Oklahoma City -- March 25, 2020

Oklahoma gasoline federal and state tax:

• federal: 18.4 cents/gallon
• state: 20 cents/gallon
• total: 38.4 cents/gallon

So, the federal tax on gasoline in Oklahoma City is now: 18.4 / 99 = almost 20%. Although, wouldn't is be more correct to figure it this way?

• 99 cents - 38.4 cents = 60.6 cents
• federal: 18.4 / 60.6 =  a 30% tax on gasoline
• state: 20 / 60.6 =  a 33% tax on gasoline
• combined: 38.4 / 60.6 = 63% tax on gasoline

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