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Tribune News Service
Tribune News Service
Business
Ron Hurtibise

Rapid rise in gas prices wipes out most tax holiday savings in Florida

Well, that didn’t last long.

Days after Florida’s monthlong gas-tax holiday took effect on Oct. 1, global oil prices spiked and triggered a quick rise in retail gas prices that wiped out most of the savings.

You can blame gasoline distributors and retailers who are lightning-quick to hike prices when any oil market disruption occurs, then take their sweet time reducing them when those disruptions ease.

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