On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA), which takes effect on January 1, 2023, and resurrects the Hazardous Substance Superfund Trust Fund better known as “Superfund tax” on oil and petroleum products.

Effective January 1, 2023, the Federal Government will begin collecting the Hazardous Substance Superfund Fee of $.00391 per gallon.  Beginning January 1, 2023, Ewing Oil’s invoices will incorporate this tax into the already collected Federal Oil Spill Recovery Fee of $.00214 per gallon.  The resulting line item will be an inclusive rate of:

$.00544 per gallon for gasoline blended with 10% ethanol

$.00605 per gallon for distillates and non-ethanol gasoline

 Due to the timing of the effective date of this change, prices will be posted on Sunday, January 1.  The prices posted on January 1 will include the Hazardous Substance Superfund Fee.