Hackett to retire 1 October, Jim Farley to become CEOThere are no "regulations" that keep fuel prices low. Prices are driven by market demand and taxes - both state and federal.
Each state is free to tax both gasoline and diesel fuel at whatever level it desires. Prices are high in other countries because they levy heavy taxes on fuel (and have varied the level of taxes on gasoline and diesel fuel to drive more customers to buy diesel-powered vehicles, which further distorts the market not only for motor fuel, but also for vehicles).
The lower the level of taxation, the less distortion there is in the market, as the retail price is closer to the true market price. Instead of enacting high federal gasoline or diesel fuel taxes, this country has historically chosen to lower demand by regulating vehicle fuel economy through CAFE.Wed, 05 Aug 2020 18:08:53 +0000
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