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More Californians Hitting the Road

February 4,2016-

2014-15 Gasoline Consumption Increase Largest in More Than a Decade

Screen Shot 2016-02-04 at 8.20.49 AMSacramento – The California State Board of Equalization (BOE) announces gasoline consumption in the state rose 2.4 percent during fiscal year (FY) 2014-15, the largest yearly increase since FY 2003-2004 (increase of 2.6 percent). The rise in fuel consumption signals a strengthening California economy, with cheaper gas prices encouraging more vehicle travel.

Chairman: “The increase in gasoline consumption shows more people are working and families can afford more road trips now,” said BOE Chairman Jerome E. Horton.

Vice Chair: “Lower gas prices means Californians can do more with less,” said Vice Chair George Runner. “With more Californians back on the road, it’s time for the governor and Legislature to prioritize improving our infrastructure without raising taxes.”

Ma: “Working families need a break. Lower gas prices put less of a strain on their household budgets,” said Board Member Fiona Ma.

Harkey: “California’s economy is improving and getting stronger every day. Lower gas prices are a driving factor behind our state’s improving economy,” said Board Member Diane Harkey.

In FY 14-15, Californians consumed 14.921 billion gallons of gasoline, a 2.4 percent increase from 14.574 billion in FY 13-14. During FY 14-15 California’s average price of gasoline was $3.42 per gallon, a decline of 12.8 percent from the average price of gasoline of $3.92 in FY 13-14. During FY 14-15, diesel consumption rose 2.5 percent, following a 3.5 percent jump in FY 13-14.

Fiscal year gasoline consumption data is calculated from July 1, 2014 – June 30, 2015. The trend of rising gasoline consumption continued into the third quarter of 2015 (July – September), increasing 2.7 percent from the third quarter of 2014. Third quarter diesel consumption rose 1.3 percent.

In FY 14-15, BOE gasoline revenue estimates for sales and use taxes and excise taxes came in at $1.470 billion for sales and use tax and $5.371 billion for excise tax. In FY 14-15, BOE diesel revenue estimates for sales and use taxes and excise taxes were $830.2 million for sales tax and $357.7 million for excise tax.

Employment and Economic Factors

After taking a significant recession-era hit, California’s economy has bounced back up to the seventh largest in the world as the state’s gross domestic product reached $2.3 trillion in 2014, according to the U.S. Bureau of Economic Analysis (June 2015). Despite the ongoing drought, the agricultural sector grew in 2014 as well as economic growth in fields spanning information technology consulting to construction-related engineering, architecture, and manufacturing.

More Californians are finding employment and driving to work, according to BOE’s chief economist. In California, non-agricultural employment rose 3.0% in the third quarter of 2015 compared to the 2014 third quarter, according to the Employment Development Department.

The BOE reported that gasoline consumption in the state rose 2.4 percent during fiscal year 2014-15.

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