Story Created:
Jul 24, 2008
Story Updated:
Jul 24, 2008
Wisconsin's dumbest law (and there's a lot of competition.) A new study from the Wisconsin Policy Research Institute puts a price tag on the state's minimum markup law.
*Wisconsin’s minimum markup law adds $990 million to the annual price paid by consumers, between $267 and $278 million of which is beyond what a normal profit margin would yield.
*Wisconsin motorists currently pay 30.2 cents per gallon as a result of the minimum markup law. As a result, minimum markup has almost eclipsed the state’s 32.9-cent auto fuel tax, which is currently 9th highest in the nation.
*As the wholesale price of gas grows, so does the amount per gallon motorists have to pay as a result of minimum markup. In January of 1998, when the wholesale price of gas was 64 cents per gallon, the minimum markup stood at 5.9 cents per gallon. In July of 2008, the wholesale price of gas stands at $3.29 per gallon, with the per-gallon minimum markup amount at 30.2 cents – an increase of 400% in ten years.
*In the past year, the amount the minimum markup law adds to a gallon of gas has increased 44% - from 21 cents per gallon in July of 2007 to 30.2 cents per gallon in June of 2008.
Friday, Jul 25 at 11:03 PM Steverino wrote ...
Way concerned that the guys who own the pumps are making money, eh? I don't hear much whining about the guys who sell them the gas-- the ones who are really making out like bandits-- the BushCo Buddies. Take away the 15 cents a gallon from the gas station owner and that comes out of your local business community. The multi- nationals' much larger cut isn't IN your local business community-- it's in offshore banks. Why do you support neocon lies that only hurt you?
Thursday, Jul 24 at 7:31 PM steveegg - No Runny Eggs wrote ...
WPRI actually underestimated how much beyond a normal profit margin the minimum markup law yields, as they estimated that 8 cents per gallon was excessive. Based on an earlier 1999 WPRI report referenced in this report, it's closer to 18 cents per gallon. Further, even if one accepts the notion that every penny of the markup mandated by the state in 1999 was necessary, the current mandate has an excessive markup of 15 cents per gallon.
Thursday, Jul 24 at 11:16 AM Peter THEB wrote ...
Dingy Harry and Bela Pelosi: leaders of the 9 Percent Solution (actually approval rating of the Democrat-controlled Congress in the latest Rasmussen poll).
Thursday, Jul 24 at 9:37 AM Kurt/Elkhorn wrote ...
This is one part of that "living, breathing document" that needs tazing, except the left keeps saying "DON'T TAZE ME, BRO"!
Thursday, Jul 24 at 9:03 AM J. Gravelle wrote ...
That would be the state's unconstitutional (ergo illegal and indefensible) markup law. If our state Constitution is, as the left likes to say, a "living, breathing document", then somebody might want to grab the defibrillator paddles... -jjg DailyScoff.com
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