Why aren’t gas prices dropping?

Posted at 4:21 PM, Jul 02, 2013

On July 1st, the new state gas tax went into effect.

The flat 17.5 cents per gallon of gas tax has been replaced by a wholesale tax of 3.5 percent, which should reduce the price of gas by about 6 cents.

So why didn’t we see the changes immediately?

Officials say the gas currently being sold at the pump was bought before midnight on July 1st. So it will take a few days before the new gas makes its way into the system.

That means one station could see a drop in prices while across the street, things haven’t changed.