Business News
SACRAMENTO, Calif. – The Board of Equalization (BOE) has released California gasoline and diesel fuel consumption figures for May 2010.
California’s gasoline consumption declined 0.1 percent compared with the same month last year; while diesel fuel consumption declined 2.1 percent in May.
“Gasoline consumption has changed little compared to last spring even though prices have increased more than 60 cents per gallon,” said BOE Chairwoman Betty T. Yee.
Gasoline consumption edged down 0.1 percent in May 2010 when Californians consumed 1.290 billion gallons of gasoline compared to 1.291 billion gallons consumed in May 2009.
California drivers paid an average price at the pump of $3.14 per gallon for gasoline in May 2010, which is an increase of 24 percent compared to May 2009 when the average price at the pump for gasoline was $2.53.
Sales and use tax revenue from gasoline sales in California in May 2010 was $337 million, an increase of $96 million compared to the gasoline sold at the lower price in May 2009 that generated $241 million.
The May 2010 sales and use tax revenue of $337 million includes an additional $37 million due to the one percent sales and use tax rate increase that went into effect on April 1, 2009.
Diesel consumption in May 2010 shows that Californians used 205 million total gallons, which is a 2.1 percent decline from May 2009’s total of 209 million gallons of diesel used in California.
Diesel prices in California in May 2010 were $3.20 per gallon, which is an increase of 36 percent compared to May 2009 when California diesel prices were $2.35 per gallon.
Diesel consumption generally follows economic activity and is especially closely related to construction and transportation of goods.
The BOE is able to monitor gallons through tax receipts paid by fuel distributors. The figures reported monthly are net consumption that includes BOE audit assessments, refunds, amended and late tax returns, and State Controller’s Office refunds.
Figures for June 2010 are scheduled to be available at the end of September 2010.
All monthly, quarterly, and annual figures can be viewed at: www.boe.ca.gov/sptaxprog/spftrpts.htm.
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WASHINGTON – U.S. Transportation Secretary Ray LaHood has announced $11.6 million in grants to help disadvantaged business enterprises (DBEs) compete for federal highway contracts in 30 states and Puerto Rico.
“Giving these small businesses the assistance they need to compete for federal highway contracts creates jobs and ultimately helps taxpayers by reducing project costs,” said Secretary LaHood. “Any way you look at them, these grants are a ‘win-win’ for the American people.”
Most of the funds were awarded to state departments of transportation across the country. The California Department of Transportation received $1 million – the largest amount of any state – to disburse as part of the program.
The grants from the Federal Highway Administration’s Disadvantaged Business Enterprise/Supportive Services (DBE/SS) program provide federal aid to DBE firms to improve their ability to compete for and fulfill federal highway contracts.
Since 1982, the Federal Highway Administration (FHWA) has promoted the participation of DBEs in federal-aid highway contracts through state-managed programs.
The DBE/SS grants are part of an ongoing federal effort to help state departments of transportation train certified DBE firms on a wide range of business management practices, including procurement assistance and guidance on securing bonding. The goal of the program is to help DBEs successfully compete for federal highway projects.
"Helping DBE firms and their workers enriches the competition for federal highway contracts," said Federal Highway Administrator Victor Mendez. "Grants like these will help people find jobs and are an important part of economic recovery."
A DBE is a for-profit, small business owned by minorities, women or socially and economically disadvantaged individuals or, in the case of a corporation, in which 51 percent of the stock is owned by one or more such individuals.
The daily business operations must be controlled by at least one of the socially and economically disadvantaged owners. More information about DBE eligibility can be found on the U.S. Department of Transportation’s Web site, www.dot.gov/.
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