Returning some petrol tax dollars to consumers
If I am not mistaken the petrol tax is based on a fixed percentage of the petrol price. The price has gone up from around $1.80 or less to above $2.00 on average recently. This means that petrol tax collected will proportionally increase by about 10%. Would be nice if the tax can be adjusted downwards just a little to keep petrol price from running away. Transportation cost for all goods and services will go up accordingly if petrol price is allowed to go up unchecked. The repercussion is very pervasive. I already hear people saying 'Fat Hope' that petrol tax will be reduced. Don't ever dream of it. High petrol price is due to external factors beyond our control.