Fill 'Er Up!

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DECATUR – Gasoline prices are at their lowest price per gallon in years, so fill 'er up!

Several gas stations in the Decatur area had their pumps at $1.39 a gallon. The national average is $1.77 per gallon.

Several factors are in play making this possible including increased production, low taxes and a worldwide glut of crude. Some analysts even believe that a gallon of petrol could drop to $1.00 a gallon in some states. But a dark cloud may be looming in your tank.

President Obama is proposing a tax of $10.00 per barrel of oil.

Under his proposal the tax would be phased in over a five year period of time. The president is set to propose the tax when he reveals his budget next week. He wants to use the billions of dollars of revenue from the tax to fight carbon emissions, mass transit investments and explore self-driving cars. But oil experts say that would hurt consumers because oil companies would simply pass along the increase at the pumps.

Friday, a barrel of oil was $31.72. 

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