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Great news, the state gas tax is going down! So we can expect prices at the pump to fall, too, right? Right?
It's me again, folks!
I'm still digging out of emails and catching up after that week off, but one of our headlines this week struck me: NJ's gas tax fell by 8.3 cents a gallon. Here's why you won't feel it at the pump.
My instinct was to mutter something like "Well there's a shocker" and go on with my day, but I enjoy aggravating myself. So I read the story, by our Steve Strunsky (it's for our subscribers, so if you haven't joined us yet, now would be a great time) which explains why a 16% reduction in the state's gasoline tax won't reduce the price you pay at the pump.
It has to do with retailers buying their wholesale supply in bulk and in advance, so the prices they need to sell gas at to make a profit are already set. There's also the effect of rising wholesale prices for gasoline and diesel caused by fluctuations in the crude oil market.
Add to this the many other state and federal taxes already factored into the price of your gas, and the bottom line? "They’re not going to see that 8-cent reduction,” one industry expert said of motorists like you and me. Shocking, I know.
But hold on -- lest you think gas station owners are just money-sucking vampires, the story also notes that most retailers make only a slim profit on fuel, and much more on things like merchandise and repairs. OK, fine, maybe there really isn't a villain here.
Then again, another headline: Five N.J. gas stations to pay $138k for overcharging customers for fuel. Sukhdev Singh of Belleville, who owned all five stations, sold regular gas as premium and charged customers a higher price than was marked on the signs, the feds say.
Also this week, a very mad Dad, dogs on the beach, rich people stay rich, 10-digit dialing, and free lunch for everyone: GET IT TOGETHER, MAN: Look, we're all doing the best we can right now and especially for parents, these are fraught days. But we have to decide, as adults, not to take our frustrations out on school officials, as happened in Beachwood this week. The kids need us all to do better.
TELL YOUR DOG I SAID HI: As my own dog, Mr. Starkey, can confirm, it's the time of year when your best buds are again welcome on some Jersey Shore beaches. My boy is partial to Douglass Park down in North Cape May -- what's your favorite dog beach?
THAT'S A RELIEF: Yes, there's a global pandemic, a freaked-out job market, and disruptions in the supply chain, but never fear: The richest people in the U.S. are still getting richer. Check out the four New Jersey billionaires who made this year's Forbes 400 list -- and one who didn't.
HIT THE DIGITS: In the 26 years I've lived in New Jersey, I've had four different area codes, which seems excessive given there were only four actual counties involved. In the 856 and 908 area codes, you could still dial local numbers without adding on the first three numbers. No more, our Katie Kausch reports. THE WRONG ARGUMENT: Is the problem in Warren Township that the school district signed up for federal free lunch for the whole school, or that the lunches themselves aren't as good as the ones the PTO was making money from? You be the judge. Finally, animal rescue workers in the Blairstown area are dealing with the aftermath of a hoarding case that saw hundreds of animals stranded when their owner died. Dogs, cats and farm animals are still being rounded up and taken to shelters. Find out how you can help here.
Have a great week, everyone!
P.S.: The late Sarah Dash is getting her flowers.
Amy Z. Quinn Audience Editor
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