Estimate the number of personal motor vehicles in your city or state. What is the total number of miles driven each year? How much revenue is raised per vehicle per year for each 1 cent/gallon tax? Assume that the average vehicle achieves 25 miles per gallon in fuel economy.
What will be an ideal response?
In Virginia, as of 2011, there were 6,998,385 registered motor vehicles. An estimated 80,974,000,000 vehicle-miles were traveled. Assume the average vehicle has a gasoline consumption rate of 25 miles per gallon (mpg). Thus the total amount of gasoline (TG) consumed in one year is:
TG = (miles driven/year)/(mpg)
TG = (80,974,000,000)/25
TG = 3,238,960,000 gallons
The total revenue (TR ) raised by the 1 cent/gallon tax would be:
TR = ($0.01/gallon) × TG
TR = 0.01 × 3,238,960,000
TR = $32,389,600
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