GM’s CEO Rick Wagoner said Tuesday that increasing the federal gas-tax to guarantee a minimum price of $4 a gallon is “worth of consideration.” Many industry leaders have aggressively opposed a gas-tax hike but GM, which is betting its future on high-priced, fuel-efficient vehicles, feels that it will push new car shoppers to purchase hybrid or electric-vehicles.
On Tuesday, the average price of gasoline was $1.91 according to the Energy Information Administration. To hit $4 a gallon, the federal gas-tax would have to increase to more than $2 per gallon.
“Everybody talks about $4 a gallon because, until gas prices hit $4, nobody saw any shift in consumer behavior,” said Greg Martin, a GM spokesman. “Only then did people put fuel efficiency front and center.”
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– By: Omar Rana