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Pennsylvania's Gasoline Tax

The IFO published a research brief that examines the Pennsylvania gasoline tax, which comprises 55% of Motor License Fund revenues. Although Pennsylvania levies the highest gasoline tax rate in the nation, the analysis finds that collections have not kept pace with the rising cost of road construction. This outcome is largely the result of the tax structure, which is tied to the average wholesale price of fuel and has not increased since 2018. For FY 2021-22, the IFO estimates that the annual gasoline tax burden per licensed Pennsylvania driver is $285.

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Pennsylvania's gasoline Tax

The IFO published a research brief that examines the Pennsylvania gasoline tax, which comprises 55% of Motor License Fund revenues. Although Pennsylvania levies the highest gasoline tax rate in the nation, the analysis finds that collections have not kept pace with the rising cost of road construction. This outcome is largely the result of the tax structure, which is tied to the average wholesale price of fuel and has not increased since 2018. For FY 2021-22, the IFO estimates that the annual gasoline tax burden per licensed Pennsylvania driver is $285.

06/13/2022

RB_2022_06_PA_Gasoline_Tax.pdf

This research brief provides an overview of Pennsylvania’s gasoline tax rate, revenue collections, consumption and average tax burden per Pennsylvania licensed driver. Gasoline tax collections comprise roughly 55% of total Motor License Fund (MLF) revenues. 1 Residual MLF revenues are from various licenses

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MER-2014-12.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of regu‐ lar gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

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Monthly_Economic_Update_June_2022.pdf

Pennsylvania Fuel Prices Reach Highest Level On Record The U.S. Energy Information Administration releases weekly gasoline and diesel fuel prices for the U.S. and by region. Pennsylvania is included in the Central Atlantic region, along New Jersey and Delaware. Data for the first two weeks of June show that the average weekly price of regular gasoline for the region was $4.93 per gallon, a 60% increase from $3.08 in June 2021 and 128% from

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MER-2015-01.pdf

50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values increasing pessimism. 5 Monthly Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of regu- lar gasoline. 6 Commercial Traffic on PA Turnpike Year-over-year growth rate of the volume of commercial truck traffic on the

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MER-2015-04.pdf

50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values increasing pessimism. 5 Monthly Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of regu‐ lar gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

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MTR-2016-05.pdf

Data through April 2016 show a continuation of this trend, with annual growth of 6.1%. By contrast, sales at gasoline stations have become a less significant component of consumer spending. In 2012, gasoline station sales comprised 14.1% of total sales, whereas in 2016, these sales comprised 9.0% of the total. This

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Official_Revenue_Estimate_Methodology_2022.pdf

License Fund Methodologies | Page 23 Oil Company Franchise Tax Rate The tax rate is 153.5 mills for liquid fuels (gasoline) and 208.5 mills for fuels (diesel) applied to the average wholesale price (AWP) of liquid fuels and fuels, and price was capped at $1.25 per gallon and the tax rate had been 19.2 cents per gallon for gasoline and 26.1 cents per gallon for diesel. Act 89 of 2013 increased the AWP to $1.87 per gallon

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Official_Revenue_Estimate_Methodology_2021.pdf

License Fund Methodologies | Page 25 Oil Company Franchise Tax Rate The tax rate is 153.5 mills for liquid fuels (gasoline) and 208.5 mills for fuels (diesel) applied to the average wholesale price (AWP) of liquid fuels and fuels, and price was capped at $1.25 per gallon and the tax rate had been 19.2 cents per gallon for gasoline and 26.1 cents per gallon for diesel. Act 89 of 2013 increased the AWP to $1.87 per gallon

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Official-Revenue-Estimate-Methodology-2020-6.pdf

Methodologies | Page 25 Oil Company Franchise Tax Rate The tax rate is 153.5 mills for liquid fuels (gasoline) and 208.5 mills for fuels (diesel) applied to the average wholesale price (AWP) of liquid fuels and fuels, and expressed on capped at $1.25 per gallon and the tax rate had been 19.2 cents per gallon for gasoline and 26.1 cents per gallon for diesel. Act 89 of 2013 increased the AWP to $1.87 per gallon effective January

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Official-Revenue-Estimate-Methodology-2019-06.pdf

Methodologies | Page 26 Oil Company Franchise Tax Rate The tax rate is 153.5 mills for liquid fuels (gasoline) and 208.5 mills for fuels (diesel) applied to the average wholesale price (AWP) of liquid fuels and fuels, and expressed on capped at $1.25 per gallon and the tax rate had been 19.2 cents per gallon for gasoline and 26.1 cents per gallon for diesel. Act 89 of 2013 increased the AWP to $1.87 per gallon effective January

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mid-year-FY14-15-presentation.pdf

Called for 2.2% Inflation in 2015. • Revised down to 0.3%. Could be negative (IHS Economics). • Due to low gasoline prices. Low utility prices too. • Strong dollar also makes imports cheaper. Why Does This Matter? • Tax revenues include inflation. • Inflation 2% ‐2.9% ‐1.9% 4.1% Transportation Car, Public Transit, Other 2.8% 0.6% 2.0% 9.5% Gasoline ‐3.8% ‐2.7% ‐21.5% 4.5% Medical Care 2.2% 2.5% 3.5% 7.1% All Other

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State_Tax_Comparison_2022_01.pdf

due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, but Pennsylvania does not. State Rank Amount Ratio State Rank Amount Ratio Hawaii 1 ratio of motor vehicle taxes to personal income. The motor vehicle category includes tax revenues from motor fuels (e.g., gasoline excise), fees (e.g., registration and license fees) and miscellaneous taxes on motor vehicle operators. For Pennsylvania, the motor vehicle

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State_Tax_Comparison_2020_11.pdf

broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, but Pennsylvania does not. Table 3 Sales and Use Tax State Rank Amount Ratio State Rank motor vehicle taxes to personal income. The motor vehicle category includes tax revenues from motor fuels (e.g., gasoline excise), fees (e.g., registration and license fees) and miscellaneous taxes on motor vehicle operators. For Pennsylvania, the motor vehicle category includes

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State-Tax-Comparison-2020-01.pdf

broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, whereas Pennsylvania does not. Table 3 Sales and Use Tax State Rank Amount Ratio State Rank motor vehicle taxes to personal income. The motor vehicle category includes tax revenues from motor fuels (e.g., gasoline excise), fees (e.g., registration and license fees) and miscellaneous taxes on motor vehicle operators. For Pennsylvania, the motor vehicle category includes

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SR2017-03.pdf

due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, whereas Pennsylvania does not. Table 3 Sales and Use Tax State Rank Amount Ratio ratio of motor vehicle taxes to personal income. The motor vehicle category includes tax revenues from motor fuels (e.g., gasoline excise), fees (e.g., registration and license fees) and miscellaneous taxes on motor vehicle operators. For Pennsylvania, the motor vehicle

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Presentation_Phil_Chamber_2-12-2015.pdf

2015 17 Consumer Sentiment Surges Jan 2009 Jan 2015 June 2014 June 2008 UM Consumer Sentiment Index aligns exactly with gasoline price drop Average Gasoline Price Decline Year-Over-Year: • Average Price Decline: Jul to Dec 2014 -7.0%. • Average Price Decline: Jan to Jun

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Revenue-Estimate-2019-05.pdf

peak in 2018 Q4, providing relief to homebuyers and homeowners who want to refinance.  The mid-Atlantic gasoline price reflects market conditions in Pennsylvania, New Jersey and New York. Recent data show an uptick in gasoline prices and most analysts expect that trend to continue through the summer.  The home price index measures the value of existing

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Official-Revenue-Estimate-2019-06.pdf

peak in 2018 Q4, providing relief to homebuyers and homeowners who want to refinance.  The mid-Atlantic gasoline price reflects market conditions in Pennsylvania, New Jersey and New York. Recent data show an uptick in gasoline prices and most analysts expect that trend to continue through the summer.  The home price index measures the value of existing

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Official-Revenue-Estimate-2018-06.pdf

still ac- celerated from the previous year (0.6 percent). (See Table 1.3.) With the exception of gasoline, all CPI-U components recorded minor price gains. Especially notable was the modest increase of the medical care component (0.4 percent inflation on a year-over-year basis since the first quarter of 2017. Only the fuels-utilities and gasoline components show infla- tionary pressures for the Philadelphia metro region. For the first quarter of 2018, the core CPI-U, which excludes

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Initial-Revenue-Estimate-2018-05.pdf

still ac- celerated from the previous year (0.6 percent). (See Table 1.3.) With the exception of gasoline, all CPI-U components recorded minor price gains. Especially notable was the modest increase of the medical care component (0.4 percent inflation on a year-over-year basis since the first quarter of 2017. Only the fuels-utilities and gasoline components show infla- tionary pressures for the Philadelphia metro region. For the first quarter of 2018, the core CPI-U, which excludes

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Budget_Hearing_Background-Feb2014.pdf

Reports and Analyses 2 Published Revenue Estimates 3 The Pennsylvania Economy Employment 4 Employment – Job Gains / Losses 5 Inflation and Gasoline Prices 6 Consumer Debt 7 General Fund Revenues Sales and Use Tax – Nonmotor 8 Sales and Use Tax – Motor Vehicles 0.9% Sources: U.S. Bureau of Labor Statistics and IHS Economics, January 2014. 6 The Pennsylvania Economy – Inflation and Gasoline Prices • Inflation is forecasted to remain low through 2014, but will pick up slightly with economic activity in early 2015

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Budget Hearings Packet.pdf

reduction in primary mortgage debt. 5 Consumer inflation in both the Philadelphia and Pittsburgh metro regions begins to accelerate. 6 Gasoline prices have recovered from a decade low. Stock markets achieve steady gains. 7 Pennsylvania economic and employment growth slower than Fuels/Utilities -6.0% -2.2% 0.7% 5.4% Transportation -5.1% -3.5% 3.6% 14.8% Transportation - Gasoline -20.4% -14.7% 11.9% 2.7% Medical Care 2.9% 3.5% 2.3% 8.7% Food and

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Budget Hearings Packet- Web Version.pdf

reduction in primary mortgage debt. 5 Consumer inflation in both the Philadelphia and Pittsburgh metro regions begins to accelerate. 6 Gasoline prices have recovered from a decade low. Stock markets achieve steady gains. 7 Pennsylvania economic and employment growth slower than Fuels/Utilities -6.0% -2.2% 0.7% 5.4% Transportation -5.1% -3.5% 3.6% 14.8% Transportation - Gasoline -20.4% -14.7% 11.9% 2.7% Medical Care 2.9% 3.5% 2.3% 8.7% Food and

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2013 Appropriation Hearings Background Information.pdf

Overview 1 Published Revenue Estimates 2 Major Federal Tax Changes for 2013 3 The Pennsylvania Economy Employment 4 Inflation and Gasoline Prices 5 Consumer Debt and Student Loan Debt 6 General Fund Revenues Sales and Use Tax – Nonmotor 7 Sales and 1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 5 The Pennsylvania Economy – Inflation and Gasoline Prices • Inflation is forecasted to remain low. Restrained economic growth will not put much upward pressure on prices. • Monthly average

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State and Local Tax Burden Study.pdf

due to exclusions for clothing and food purchased for home consumption. Moreover, many states levy sales tax on gasoline in addition to an excise tax; Pennsylvania does not. For property tax, home values might drive much of the relative rankings. More store profits and net lottery proceeds. The motor vehicle category includes tax revenues from motor fuels (e.g., gasoline excise), fees (e.g., registration and license fees) and miscellaneous taxes on motor vehicle operators. For FYE 2010 and 2011, Pennsylvania ranked

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Revenue_Estimate_2021_05.pdf

very high (13.0%) due to price gains for new vehicles (8.7%) and used cars and trucks (20.7%). Gasoline prices, which comprises 2.6% of the total CPI-U index, increased 36.4% from the prior year. Due to year and $17 million below the IFO’s official estimate. 6 Collections were impacted by a roughly 10% reduction in gasoline consumption related to the pandemic (i.e., less travel and widespread remote work). Additionally, due date extensions for most license

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MTR-2015-10.pdf

of 2015 (year-over-year), and is near the national inflation rate, which declined 0.4% over the same period. Gasoline prices fell sharply, declining 27.7%. Natural gas prices also fell, declining 14.0%. Overall, energy costs in Pennsylvania declined 2%. Excluding energy costs, the CPI-W increased 1.7% in the third quarter of 2015. The impact of low gasoline and natural gas prices will also be reflected in COLAs for 2017. The Social Security Administration does not reduce benefit

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Monthly_Economic_Update_September_2021.pdf

of 4.6%, down from 4.9% in June. That result is due to a deceleration in used car and gasoline inflation (not shown in table) and a significant deceleration in Medical Care inflation from 2.8% in June to 0 imputed rent (Owner Equivalent Rent), which comprises 26.3% of the CPI-U basket. Transportation inflation (used and new cars, gasoline) decelerated in August, but remains strong at 17.5%. Excluding the Shelter component, metro area inflation also decelerated from 6

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Monthly_Economic_Update_March_2022.pdf

component (15.0% of total CPI) grew rapidly due to used motor vehicles (+42.7% growth year-over-year (YOY)), gasoline (+31.6%) and new motor vehicles (+22.2%). The shelter component (35.4% of total CPI) grew due to rent points. Looking forward, analysts anticipate that CPI growth will likely accelerate due to several factors. First, the BLS notes that gasoline price data are collected throughout the month, but is likely to be front loaded towards the beginning of a month

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Monthly_Economic_Update_December_2021.pdf

pass forward most cost increases to final consumers. Rows 7 and 8 show the YOY growth in the price of gasoline (Mid-Atlantic) and natural gas at the Henry Hub, which has been notably robust the past year. Rows 9 and 15.7% 6 US Corp Dom Profits ($ billions) Q3 $1,356 $1,514 $1,889 11.7% 24.7% 7 Gasoline (Mid-Atlantic) Oct $2.60 $2.28 $3.36 -12.3% 47.4% 8 Natural Gas (Henry Hub) Oct $2

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June_Revenue_Estimate_2021.pdf

very high (13.0%) due to price gains for new vehicles (8.7%) and used cars and trucks (20.7%). Gasoline prices, which comprises 2.6% of the total CPI-U index, increased 36.4% from the prior year. Due to year and $47 million below the IFO’s official estimate. 5 Collections were impacted by a roughly 10% reduction in gasoline consumption related to the pandemic (i.e., less travel and widespread remote work). Additionally, due date extensions for most license

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Budget_Hearing_Background_Feb2016.pdf

slower rate. 3‐4 On average, all goods decline in price, while services, notably healthcare, increase. 5 Dramatic movements in gasoline prices and stock markets add to uncertainty. 6 Compared to the U.S. and most contiguous states, the Pennsylvania economy 0.9% 91.9% Source: U.S. Bureau of Labor Statistics. (5) Other Factors That Affect Consumers Impact of lower gasoline prices on SUT revenues is weaker than anticipated. Forecast assumes gasoline prices remain at current levels for rest of year

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Independent Fiscal Office

recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. ... (Full Report) Pennsylvania's Gasoline Tax Economics and Other June 13, 2022 The IFO published a research brief that examines the Pennsylvania gasoline tax, which comprises 55% of Motor License Fund revenues. Although Pennsylvania levies the highest gasoline tax rate in the nation

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Revenue_Estimate_2022_06.pdf

Total and Components Note: Taxable includes food away from home, cars, furniture, appliances, recreation and communications. Non- taxable includes shelter, gasoline, groceries, healthcare, fuels-utilities and other services. Source: U.S. Bureau of Labor Statistics. -2% 0% 2% 4% 6% 8% are expected to be flat (-0.1%) for FY 2022-23. That result is driven by three factors: ▪ Consumption of gasoline has rebounded but remains below pre-pandemic levels due to changes in driver behavior (largely more telecommuting) and increased vehicle

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Revenue_Estimate_2022_05.pdf

Total and Components Note: Taxable includes food away from home, cars, furniture, appliances, recreation and communications. Non- taxable includes shelter, gasoline, groceries, healthcare, fuels-utilities and other services. Computed growth rates are weighted average of separate components. Source: U.S. Bureau are expected to be flat (0.1%) for FY 2022-23. That result is driven by three factors: ▪ Consumption of gasoline has rebounded but remains below pre-pandemic levels due to changes in driver behavior (largely more telecommuting) and increased vehicle

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Revenue-Estimate-2020-05.pdf

of 1.9 percent from the prior year and $79 million below the IFO’s official estimate. Reduced gasoline consumption (as- sociated with business closures and stay-at-home orders) and due date extensions for most license and fee renewals (from  The oil company franchise tax (OCFT) rate is calculated annually based the average wholesale price (AWP) of gasoline and diesel fuel in the prior calendar year. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per

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Presentation_2016-05-13_KRFS_Economic_and_Revenue_Outlook.pdf

000s) 44.9 44.4 46.3 57.4 Realty Transfer Tax 12.4% 20.4% 18.8% 13.5% Gasoline Prices ‐28.2% ‐28.0% ‐27.3% ‐18.0% Year‐ over‐year growth rates for respective quarters. The growth in 7 47.6 48.6 52.4 Realty Transfer Tax 12.7% 13.5% 8.0% 17.0% 7.5% Gasoline Prices 3.6% ‐3.4% ‐3.4% ‐29.2% n.a. Average annual rates. Gasoline is mid‐Atlantic price. Values

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Presentation-Initial-Revenue-Estimate-2018-05.pdf

1% 0.6% 1.3% 1.8% 2.2% Home Price Index 2.5% 4.0% 4.6% -- -- Mid-Atlantic Gasoline -29.2% -10.5% 14.8% 8.7% -- Note: Job gains exclude self-employed individuals. Growth rate for gasoline for 2018 uses prices through April 2018. Sources: U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics

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Monthly_Economic_Update_May_2022.pdf

April, the growth rate differential increased to 1.0 ppt (6.1% vs. 5.1%). ▪ The Energy CPI component includes gasoline and utilities and comprises 7.0% of the Philadelphia CPI. In February, the Philadelphia Energy component increased by 1.2 4.9% n.a. Net Job Gains (000s) 2 231.5 215.1 219.8 195.9 n.a. Avg. Gasoline Price 3 $3.44 $3.42 $3.63 $4.26 $4.11 CPI-U All Items 4 6.6% 7

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Monthly_Economic_Update_July_2021_Final.pdf

5%) and represents the largest increase since June 2008 (5.1%). The increase was due to strong gains related to gasoline (40.0%), used cars and trucks (45.3%), and new vehicles (18.7%). A WSJ article noted how strong vehicle 6.9% n.a. Net Job Gains (000s) 2 -438.1 -376.8 702.8 529.2 n.a. Avg. Gasoline Price 3 $2.63 $2.87 $2.86 $3.01 $3.08 CPI-U All Items 4 1.0% 2

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Monthly_Economic_Update_August_2021.pdf

19 travel restrictions were relaxed over the summer including: Airline Fares (+19.0%), Lodging Away from Home (+21.5%) and Gasoline (+41.8%). Car and Truck Rental prices grew 73.5% compared to last July. The large price increase is the 6.9% n.a. Net Job Gains (000s) 2 -376.8 702.8 530.4 325.4 n.a. Avg. Gasoline Price 3 $2.87 $2.86 $3.01 $3.08 $3.15 CPI-U All Items 4 2.2% 3

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Mid_Year_FY16-17_Presentation.pdf

2% 0.4% 0.6% 1.5% Fuel-Utilities (5%) -5.5% -4.8% -2.8% -1.6% 0.2% Gasoline (3%) -26.1% -17.7% -13.7% -9.8% 7.2% Core CPI-U (92%) 1.1% 1.2% 1 in parentheses represent weights used in CPI computation. Core CPI-U excludes all energy purchases such as household fuel and gasoline. Source: U.S. Bureau of Labor Statistics. 25.Jan.2017 6 Year-Over-Year Growth Rates PA Energy Inflation Returns

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mid-year-FY14-15-press-release.pdf

beginning of the fiscal year and $26 million higher than the official estimate recertified by the governor in September. “Lower gasoline prices drive some of the projected revenue increase.” Knittel said. “We anticipate that Pennsylvania households will save between $3.0 and $3.5 billion on gasoline purchases this fiscal year. These savings are expected to translate to higher consumer spending on goods and services, netting an

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MER-2014-08.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

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Initial_Estimate_May_2017_Presentation.pdf

1.5% 2.1% PA Home Price Index 2.2% 3.1% 3.8% 3.6% n.a. Mid-Atlantic Gasoline -18.0% -15.1% -13.0% 6.1% 25.8% U.S. Domestic Profits -8.3% -7.7% 0.3% 2.0% PA Home Price Index -0.8% 1.0% 1.9% 2.9% 3.2% 3.8% Mid-Atlantic Gasoline 3.6% -3.4% -3.4% -29.2% -10.5% 23.0% U.S. Domestic Profits 15.0% 1.7%

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Revenue_and_Economic_Update_Presentation_2020_10.pdf

over three years  Unknown how much withdrawn under program Shifting consumer spending patterns  Less out of state travel | gasoline consumption down ~10%  Home improvement, cars, appliances and computers all taxable October 29, 2020 7 Mitigation vs. Recovery Period lower spending | great majority spent in state Some lost spending and output (GDP) will be replaced  ~10% reduction in gasoline consumption = ~+$1.5 billion spending  Net gain from less personal out-of-state travel (less leakage)  +1% productivity

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Revenue-Proposal-Analysis-2018-04.pdf

in- creased at a faster pace than general inflation, while others have been more subdued or actually declined (gasoline). In order to counteract the impact of inflation and maintain purchasing power, some states link the mandatory minimum wage to the annual 15.4% 1.4% Medical Care 35.4% 3.1% 53.7% 4.4% 26.2% 2.4% Gasoline (all types) -11.0% -1.2% -0.5% -0.1% -7.6% -0.8% 1 Average annual growth rate from 2007 to

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Revenue-Estimate-2020-05-Presentation.pdf

of dollars. Motor License Fund COVID-19 reduces FY 19-20 revenues by ~$105 million  Full-month closure reduces gasoline consumption by ~40%  Diesel largely unaffected Licenses and fees largely unaffected  Expiration dates for March, April and May of revenue to next fiscal year (~$10 million) FY 20-21 projection is flat from FY 19-20  Assumes gasoline consumption falls by ~10% from historical levels  More telecommuting, less travel, fewer social events May 26, 2020 20 Wrap

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REU-2020-02.pdf

Gains (000s) 2 261.0 147.0 225.0 n.a. 39.4 38.0 n.a. n.a. Average Gasoline Price 3 $2.60 $2.56 $2.55 $2.44 $2.62 $2.60 $2.64 $2.53 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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REU-2020-01.pdf

Gains (000s) 2 152.0 256.0 145.0 n.a. 34.5 39.4 38.0 n.a. Average Gasoline Price 3 $2.63 $2.60 $2.56 $2.55 $2.60 $2.62 $2.60 $2.64 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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REU-2019-12.pdf

Gains (000s) 2 193.0 156.0 266.0 n.a. 33.3 34.5 38.6 n.a. Average Gasoline Price 3 $2.59 $2.63 $2.60 $2.56 $2.63 $2.60 $2.62 $2.60 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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REU-2019-11.pdf

Gains (000s) 2 219.0 180.0 128.0 266.0 32.2 33.3 34.0 n.a. Average Gasoline Price 3 $2.62 $2.59 $2.63 $2.60 $2.71 $2.63 $2.60 $2.62 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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REU-2019-10.pdf

Gains (000s) 2 166.0 219.0 180.0 128.0 36.5 32.2 31.0 n.a. Average Gasoline Price 3 $2.74 $2.62 $2.59 $2.63 $2.80 $2.71 $2.63 $2.60 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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Presentation_2016-05-12_PaDUC_Impact_of_Demographics.pdf

1.6% 3.3% Generally Non‐Taxable Food at home 1.6% 7.5% 1.1% 7.2% 2.8% Gasoline & other energy goods 23.0% 2.9% ‐3.2% 3.4% 5.1% Housing & utilities 4.8% 15.5% 3 5% 8.5% 8.4% 8.4% Healthcare 5.5% 6.7% 7.5% 9.5% 12.5% 15.4% Gasoline 5.9% 5.8% 5.6% 5.5% 4.9% 3.6% Cash Contributions 2.3% 2.8% 3.7%

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Presentation-2018-06-PICPA.pdf

7% 1.6% 2.2% n.a. House Price Index 2.5% 4.0% 4.7% 5.2% Mid-Atlantic Gasoline -29.2% -10.5% 14.8% 15.0% All Consumer Debt 2.2% 4.2% 2.0% 2.5% Note Values for 2018 reflect data for the first quarter of 2018 (house price index and consumer debt), data through May (gasoline) or are forecasts by the IFO (all other). House Price Index for purchase-only transactions. Sources: U.S. Bureau of

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PBB_2021_PennDOT_REPORT_ADDENDUM.pdf

term implications for agency funding and operations. For its October 2020 revenue update, the Independent Fiscal Office (IFO) estimated that gasoline consumption in Pennsylvania declined by roughly 10 percent due to greater telecommuting, re- mote meetings, reduced social gatherings and a technical issues. The department also shifted maintenance funding to core maintenance functions. Recent economic forecasts project that the reduction in gasoline consumption will likely continue for several years and would therefore impact short- and long-term agency planning and operations. The

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Official-Revenue-Estimate-2020-06.pdf

of 4.3 percent from the prior year and $148 million below the IFO’s official estimate. Reduced gasoline consumption (associated with business closures and stay-at-home orders) and due date extensions for most license and fee renewals (from March The oil company franchise tax (OCFT) rate is calculated annually based on the average wholesale price (AWP) of gasoline and diesel fuel in the prior calendar year. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per

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Official-Revenue-Estimate-2020-06-Presentation.pdf

of dollars. Motor License Fund COVID-19 reduces FY 19-20 revenues by ~$105 million  Full-month closure reduces gasoline consumption by ~40%  Diesel more moderately affected Licenses and fees largely unaffected  Expiration dates for March, April and of revenue to next fiscal year (~$65 million) FY 20-21 projection is flat from FY 19-20  Assumes gasoline consumption falls by ~10% from historical levels  More telecommuting, less travel, fewer social events June 22, 2020 19 Wrap

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MTR-2019-09.pdf

Gains (000s) 2 178.0 159.0 130.0 n.a. 45.4 36.5 32.9 n.a. Average Gasoline Price 3 $2.72 $2.74 $2.62 $2.59 $2.77 $2.80 $2.71 $2.63 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-08.pdf

Gains (000s) 2 62.0 193.0 164.0 n.a. 51.9 45.4 37.7 n.a. Average Gasoline Price 3 $2.86 $2.72 $2.74 $2.62 $2.90 $2.77 $2.80 $2.71 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-07.pdf

Gains (000s) 2 216.0 62.0 193.0 164.0 50.9 51.9 47.7 n.a. Average Gasoline Price 3 $2.80 $2.86 $2.72 $2.79 $2.81 $2.90 $2.77 $2.77 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-06.pdf

Gains (000s) 2 153.0 216.0 72.0 224.0 50.8 50.9 53.8 n.a. Average Gasoline Price 3 $2.52 $2.80 $2.86 $2.72 $2.58 $2.81 $2.90 $2.77 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-05.pdf

Gains (000s) 2 56.0 189.0 263.0 75.0 52.3 50.8 52.5 n.a. Average Gasoline Price 3 $2.31 $2.52 $2.80 $2.86 $2.41 $2.58 $2.81 $2.90 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-04.pdf

Gains (000s) 2 312.0 56.0 189.0 263.0 55.2 52.3 50.1 n.a. Average Gasoline Price 3 $2.25 $2.31 $2.52 $2.80 $2.39 $2.41 $2.58 $2.81 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-03.pdf

Gains (000s) 2 227.0 312.0 33.0 196.0 60.5 55.2 51.4 n.a. Average Gasoline Price 3 $2.37 $2.25 $2.31 $2.52 $2.51 $2.39 $2.41 $2.58 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-02.pdf

Gains (000s) 2 196.0 222.0 304.0 n.a. 85.4 81.0 n.a. n.a. Average Gasoline Price 3 $2.65 $2.37 $2.25 $2.31 $2.72 $2.51 $2.39 $2.41 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2019-01.pdf

Gains (000s) 2 277.0 196.0 222.0 304.0 84.2 85.4 81.0 n.a. Average Gasoline Price 3 $2.86 $2.65 $2.37 $2.25 $2.90 $2.72 $2.51 $2.39 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-12.pdf

Gains (000s) 2 119.0 274.0 176.0 312.0 79.2 84.2 85.5 n.a. Average Gasoline Price 3 $2.84 $2.86 $2.65 $2.37 $2.92 $2.90 $2.72 $2.51 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-11.pdf

Gains (000s) 2 286.0 118.0 250.0 155.0 76.2 79.2 85.0 n.a. Average Gasoline Price 3 $2.84 $2.84 $2.86 $2.65 $2.92 $2.92 $2.90 $2.72 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-10.pdf

Gains (000s) 2 165.0 286.0 118.0 250.0 76.8 76.2 76.1 n.a. Average Gasoline Price 3 $2.85 $2.84 $2.84 $2.86 $2.92 $2.92 $2.92 $2.90 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-1.pdf

Gains (000s) 2 271.0 216.0 160.0 200.0 68.6 68.9 70.3 n.a. Average Gasoline Price 3 $2.51 $2.56 $2.48 $2.55 $2.58 $2.64 $2.58 $2.66 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-09.pdf

Gains (000s) 2 208.0 165.0 270.0 134.0 78.7 76.8 73.1 n.a. Average Gasoline Price 3 $2.89 $2.85 $2.84 $2.84 $2.96 $2.92 $2.92 $2.92 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-08.pdf

Gains (000s) 2 268.0 208.0 147.0 201.0 80.9 78.7 75.9 n.a. Average Gasoline Price 3 $2.90 $2.89 $2.85 $2.84 $2.97 $2.96 $2.92 $2.92 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-07.pdf

Gains (000s) 2 175.0 268.0 248.0 157.0 81.1 80.9 78.2 n.a. Average Gasoline Price 3 $2.76 $2.90 $2.89 $2.85 $2.81 $2.97 $2.96 $2.92 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-06.pdf

Gains (000s) 2 155.0 175.0 244.0 213.0 78.5 81.1 81.4 n.a. Average Gasoline Price 3 $2.59 $2.76 $2.90 $2.89 $2.65 $2.81 $2.97 $2.96 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-05.pdf

Gains (000s) 2 324.0 155.0 159.0 223.0 78.7 78.5 82.2 n.a. Average Gasoline Price 3 $2.59 $2.59 $2.76 $2.90 $2.71 $2.65 $2.81 $2.97 CPI-U of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-04.pdf

Gains (000s) 2 176.0 326.0 103.0 n.a. 78.1 78.7 77.9 n.a. Average Gasoline Price 3 $2.55 $2.59 $2.59 $2.73 $2.66 $2.71 $2.65 $2.79 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-03.pdf

Gains (000s) 2 175.0 176.0 326.0 103.0 76.8 78.1 80.0 n.a. Average Gasoline Price 3 $2.48 $2.55 $2.59 $2.59 $2.58 $2.66 $2.71 $2.65 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2018-02.pdf

Gains (000s) 2 216.0 160.0 200.0 n.a. 68.9 70.3 n.a. n.a. Average Gasoline Price 3 $2.56 $2.48 $2.55 $2.59 $2.64 $2.58 $2.66 $2.71 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-12.pdf

Gains (000s) 2 18.0 231.0 252.0 148.0 69.9 68.6 67.5 n.a. Average Gasoline Price 3 $2.65 $2.51 $2.56 $2.48 $2.77 $2.58 $2.64 $2.58 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-11.pdf

Gains (000s) 2 208.0 18.0 264.0 228.0 65.9 69.9 68.6 n.a. Average Gasoline Price 3 $2.38 $2.65 $2.51 $2.56 $2.45 $2.77 $2.58 $2.64 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-10.pdf

Gains (000s) 2 138.0 208.0 18.0 261.0 64.8 65.9 67.3 n.a. Average Gasoline Price 3 $2.30 $2.38 $2.65 $2.51 $2.37 $2.45 $2.77 $2.58 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-09.pdf

Gains (000s) 2 210.0 138.0 169.0 -33.0 57.2 64.8 63.8 n.a. Average Gasoline Price 3 $2.35 $2.30 $2.38 $2.65 $2.41 $2.37 $2.45 $2.77 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-08.pdf

of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE- Gains (000s) 2 145.0 210.0 189.0 156.0 55.1 57.2 62.2 n.a. Average Gasoline Price 3 $2.39 $2.35 $2.30 $2.38 $2.46 $2.41 $2.37 $2.45 Consumer Price

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MTR-2017-07.pdf

of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE- Gains (000s) 2 207.0 145.0 231.0 209.0 61.8 55.1 61.1 n.a. Average Gasoline Price 3 $2.42 $2.39 $2.35 $2.30 $2.47 $2.46 $2.41 $2.37 Consumer Price

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MTR-2017-06.pdf

Gains (000s) 2 50.0 207.0 152.0 222.0 68.9 61.8 52.3 n.a. Average Gasoline Price 3 $2.33 $2.42 $2.39 $2.35 $2.38 $2.47 $2.46 $2.41 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-05.pdf

Gains (000s) 2 232.0 50.0 174.0 138.0 70.5 68.9 n.a. n.a. Average Gasoline Price 3 $2.30 $2.33 $2.42 $2.39 $2.42 $2.38 $2.47 $2.46 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-04.pdf

Gains (000s) 2 216.0 219.0 98.0 n.a. 63.2 70.5 70.4 n.a. Average Gasoline Price 3 $2.35 $2.30 $2.33 $2.42 $2.49 $2.42 $2.38 $2.47 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-03.pdf

Gains (000s) 2 155.0 216.0 219.0 98.0 61.1 63.2 67.6 n.a. Average Gasoline Price 3 $2.25 $2.35 $2.30 $2.33 $2.37 $2.49 $2.42 $2.38 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-02.pdf

Gains (000s) 2 164.0 157.0 227.0 n.a. 44.5 35.6 n.a. n.a. Average Gasoline Price 3 $2.18 $2.25 $2.35 $2.30 $2.31 $2.37 $2.49 $2.42 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2017-01.pdf

Gains (000s) 2 124.0 164.0 157.0 227.0 48.4 44.5 35.6 n.a. Average Gasoline Price 3 $2.25 $2.18 $2.25 $2.35 $2.26 $2.31 $2.37 $2.49 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-12.pdf

Gains (000s) 2 208.0 135.0 204.0 156.0 60.9 48.4 42.5 n.a. Average Gasoline Price 3 $2.22 $2.25 $2.18 $2.25 $2.22 $2.26 $2.31 $2.37 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-11.pdf

Gains (000s) 2 176.0 208.0 142.0 178.0 58.9 60.9 51.2 n.a. Average Gasoline Price 3 $2.18 $2.22 $2.25 $2.18 $2.17 $2.22 $2.26 $2.31 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-10.pdf

Gains (000s) 2 252.0 167.0 156.0 n.a. 53.8 58.9 58.5 n.a. Average Gasoline Price 3 $2.24 $2.18 $2.22 $2.25 $2.25 $2.17 $2.22 $2.26 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-09.pdf

Gains (000s) 2 292.0 254.0 151.0 n.a. 50.9 53.8 58.5 n.a. Average Gasoline Price 3 $2.37 $2.24 $2.18 $2.22 $2.34 $2.25 $2.17 $2.22 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-08.pdf

Gains (000s) 2 24.0 292.0 254.0 151.0 61.3 50.9 50.7 n.a. Average Gasoline Price 3 $2.27 $2.37 $2.24 $2.18 $2.30 $2.34 $2.25 $2.17 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-06.pdf

Gains (000s) 2 186.0 144.0 11.0 287.0 58.3 65.3 60.5 n.a. Average Gasoline Price 3 $1.97 $2.11 $2.27 $2.37 $1.94 $2.13 $2.30 $2.34 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-04.pdf

Gains (000s) 2 168.0 245.0 215.0 n.a. 40.9 45.2 57.4 n.a. Average Gasoline Price 3 $1.95 $1.76 $1.97 $2.11 $2.01 $1.84 $1.94 $2.13 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-03.pdf

Gains (000s) 2 271.0 168.0 245.0 215.0 46.3 40.9 45.1 n.a. Average Gasoline Price 3 $2.04 $1.95 $1.76 $1.97 $2.13 $2.01 $1.84 $1.94 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-02.pdf

Gains (000s) 2 280.0 271.0 172.0 242.0 43.2 41.8 38.7 n.a. Average Gasoline Price 3 $2.16 $2.04 $1.95 $1.76 $2.20 $2.13 $2.01 $1.84 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2016-01.pdf

Gains (000s) 2 295.0 280.0 262.0 151.0 50.1 43.2 41.8 n.a. Average Gasoline Price 3 $2.29 $2.16 $2.04 $1.95 $2.22 $2.20 $2.13 $2.01 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2015-11.pdf

Gains (000s) 2 153.0 145.0 298.0 211.0 62.0 56.5 49.7 n.a. Average Gasoline Price 3 $2.64 $2.37 $2.29 $2.16 $2.56 $2.32 $2.22 $2.20 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2015-09.pdf

Gains (000s) 2 245.0 223.0 136.0 142.0 58.7 62.6 61.7 n.a. Average Gasoline Price 3 $2.80 $2.79 $2.64 $2.37 $2.78 $2.76 $2.56 $2.32 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2015-08.pdf

Gains (000s) 2 260.0 245.0 245.0 173.0 57.2 58.7 61.7 n.a. Average Gasoline Price 3 $2.72 $2.80 $2.79 $2.64 $2.71 $2.78 $2.76 $2.56 Consumer Price of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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MTR-2015-07.pdf

Gains (000s) 2 187.0 254.0 223.0 n.a. 62.5 57.2 58.4 n.a. Average Gasoline Price 3 $2.47 $2.72 $2.80 $2.79 $2.49 $2.71 $2.78 $2.76 Consumer Price months of data. Source: U.S. Department of Labor—Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 4. Annual change in average price level for U.S. and PA-NJ-DE-

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Monthly_Economic_Update_Table_December_2020.pdf

n.a. n.a. Net Job Gains (000s) 2 -499.1 -465.3 -455.9 n.a. n.a. Avg. Gasoline Price 3 $2.25 $2.28 $2.28 $2.26 $2.32 CPI-U All Items 4 0.4% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 11. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_September_2022.pdf

4.3% 4.2% Net Job Gains (000s) 2 211.1 205.8 208.9 202.0 201.6 Avg. Gasoline Price 3 $4.11 $4.59 $4.92 $4.62 $4.17 CPI-U All Items 4 8.4% 8 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_September_2021_Indicators.pdf

6.6% n.a. Net Job Gains (000s) 2 702.8 530.4 331.5 222.2 n.a. Avg. Gasoline Price 3 $2.86 $3.01 $3.08 $3.15 $3.18 CPI-U All Items 4 3.5% 4 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_September_2020.pdf

10.3% n.a. Net Job Gains (000s) 2 -853.7 -625.3 -549.4 -499.6 n.a. Avg. Gasoline Price 3 $2.03 $2.16 $2.25 $2.25 $2.29 CPI-U All Items 4 0.0% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2020-09-22 19:35:48 Creator: Microsoft® Publisher 2016 ModDate: 2020-09-

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Monthly_Economic_Update_October_2022.pdf

4.2% 4.1% Net Job Gains (000s) 2 205.8 208.9 202.0 203.5 219.8 Avg. Gasoline Price 3 $4.59 $4.92 $4.62 $4.17 $3.71 CPI-U All Items 4 8.6% 8 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2022-10-24 19:01:11 Creator: PScript5.dll Version 5.2.2

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Monthly_Economic_Update_October_2021_Indicators.pdf

6.4% n.a. Net Job Gains (000s) 2 530.4 331.5 228.3 191.1 n.a. Avg. Gasoline Price 3 $3.01 $3.08 $3.15 $3.18 $3.23 CPI-U All Items 4 4.2% 4 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2021-10-07 17:34:42 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_October_2021.pdf

6.4% n.a. Net Job Gains (000s) 2 530.4 331.5 228.3 191.1 n.a. Avg. Gasoline Price 3 $3.01 $3.08 $3.15 $3.18 $3.23 CPI-U All Items 4 4.2% 4 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2021-10-07 18:27:40 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_October_2020.pdf

8.1% n.a. Net Job Gains (000s) 2 -625.3 -549.4 -499.1 -470.8 n.a. Avg. Gasoline Price 3 $2.16 $2.25 $2.25 $2.28 $2.28 CPI-U All Items 4 0.1% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 11. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_November_2022.pdf

4.1% 4.0% Net Job Gains (000s) 2 208.9 202.0 203.5 220.6 195.2 Avg. Gasoline Price 3 $4.92 $4.62 $4.17 $3.71 $3.70 CPI-U All Items 4 8.8% 8 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_November_2021.pdf

6.2% n.a. Net Job Gains (000s) 2 331.5 228.3 189.7 131.0 n.a. Avg. Gasoline Price 3 $3.08 $3.15 $3.18 $3.23 $3.36 CPI-U All Items 4 4.9% 4 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2021-11-10 14:51:54 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_November_2020_Final.pdf

7.3% n.a. Net Job Gains (000s) 2 -549.4 -499.1 -465.3 -455.9 n.a. Avg. Gasoline Price 3 $2.25 $2.25 $2.28 $2.28 $2.24 CPI-U All Items 4 0.3% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 11. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_May_2021.pdf

7.3% n.a. Net Job Gains (000s) 2 -480.5 -453.0 -438.1 -369.2 n.a. Avg. Gasoline Price 3 $2.34 $2.47 $2.63 $2.87 $2.86 CPI-U All Items 4 1.1% 1 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. Author: lrompalo CreationDate: 2021-05-18 18:21:33 Creator: PScript5.dll Version 5

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Monthly_Economic_Update_May_2020.pdf

n.a. n.a. Net Job Gains (000s) 2 44.0 62.0 14.5 n.a. n.a. Avg. Gasoline Price 3 $2.64 $2.53 $2.35 $2.06 $2.00 CPI-U All Items 4 2.5% 2 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2020-05-20 17:37:20 Creator: Microsoft® Publisher 2016 ModDate: 2020-05-

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Monthly_Economic_Update_March_2021.pdf

7.3% n.a. Net Job Gains (000s) 2 -451.5 -444.7 -480.5 -455.0 n.a. Avg. Gasoline Price 3 $2.28 $2.26 $2.34 $2.47 $2.63 CPI-U All Items 4 0.8% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_June_2021_Indicators.pdf

7.4% n.a. Net Job Gains (000s) 2 -453.0 -438.1 -376.8 703.6 n.a. Avg. Gasoline Price 3 $2.47 $2.63 $2.87 $2.86 $3.01 CPI-U All Items 4 1.0% 1 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2021-06-17 18:21:41 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_June_2021.pdf

7.4% n.a. Net Job Gains (000s) 2 -453.0 -438.1 -376.8 703.6 n.a. Avg. Gasoline Price 3 $2.47 $2.63 $2.87 $2.86 $3.01 CPI-U All Items 4 1.0% 1 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2021-06-17 18:51:37 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_June_2020.pdf

n.a. n.a. Net Job Gains (000s) 2 62.0 -16.4 -1044.0 n.a. n.a. Avg. Gasoline Price 3 $2.53 $2.35 $2.06 $2.03 $2.13 CPI-U All Items 4 2.6% 1 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2020-06-17 17:34:06 Creator: Microsoft® Publisher 2016 ModDate: 2020-06-

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Monthly_Economic_Update_July_2022.pdf

4.6% 4.5% Net Job Gains (000s) 2 219.8 200.0 211.1 205.8 211.3 Avg. Gasoline Price 3 $3.63 $4.26 $4.11 $4.59 $4.92 CPI-U All Items 4 7.3% 7 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2022-07-25 16:06:43 Creator: PScript5.dll Version 5.2.2

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Monthly_Economic_Update_July_2021_Indicators.pdf

6.9% n.a. Net Job Gains (000s) 2 -438.1 -376.8 702.8 529.2 n.a. Avg. Gasoline Price 3 $2.63 $2.87 $2.86 $3.01 $3.08 CPI-U All Items 4 1.0% 2 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_July_2020.pdf

0% n.a. Net Job Gains (000s) 2 -16.4 -1,065.1 -853.7 -620.3 n.a. Avg. Gasoline Price 3 $2.35 $2.06 $2.03 $2.16 $2.25 CPI-U All Items 4 1.2% -0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2020-07-23 13:57:01 Creator: Microsoft® Publisher 2016 ModDate: 2020-07-

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Monthly_Economic_Update_January_2022.pdf

5.7% n.a. Net Job Gains (000s) 2 189.7 139.0 142.2 144.0 n.a. Avg. Gasoline Price 3 $3.18 $3.23 $3.36 $3.49 $3.44 CPI-U All Items 4 4.6% 5 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. Author: Lauren Mondschein CreationDate: 2022-01-18 12:57:33 ModDate: 2022-01-18

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Monthly_Economic_Update_January_2021_Indicators.pdf

n.a. n.a. Net Job Gains (000s) 2 -465.3 461.4 452.6 n.a. n.a. Avg. Gasoline Price 3 $2.28 $2.28 $2.26 $2.34 $2.45 CPI-U All Items 4 0.6% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_January_2021.pdf

n.a. n.a. Net Job Gains (000s) 2 -465.3 -461.4 -452.6 n.a. n.a. Avg. Gasoline Price 3 $2.28 $2.28 $2.26 $2.34 $2.45 CPI-U All Items 4 0.6% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2021-02-16 13:13:35 Creator: Microsoft® Publisher 2016 ModDate: 2021-02-

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Monthly_Economic_Update_Indicators_February_2022.pdf

5.4% n.a. Net Job Gains (000s) 2 139.0 142.2 152.5 202.2 n.a. Avg. Gasoline Price 3 $3.23 $3.36 $3.49 $3.44 $3.42 CPI-U All Items 4 5.1% 5 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2022-02-09 03:01:02 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_February_2022.pdf

5.4% n.a. Net Job Gains (000s) 2 139.0 142.2 152.5 202.2 n.a. Avg. Gasoline Price 3 $3.23 $3.36 $3.49 $3.44 $3.42 CPI-U All Items 4 5.1% 5 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2022-02-09 14:38:29 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_February_2021_Indicators.pdf

6.7% n.a. Net Job Gains (000s) 2 -465.3 -461.4 -446.6 -473.5 n.a. Avg. Gasoline Price 3 $2.28 $2.28 $2.26 $2.34 $2.47 CPI-U All Items 4 0.6% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_February_2021.pdf

6.7% n.a. Net Job Gains (000s) 2 -465.3 -461.4 -446.6 -473.5 n.a. Avg. Gasoline Price 3 $2.28 $2.28 $2.26 $2.34 $2.47 CPI-U All Items 4 0.6% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_December_2020.pdf

n.a. n.a. Net Job Gains (000s) 2 -499.1 -465.3 -455.9 n.a. n.a. Avg. Gasoline Price 3 $2.25 $2.28 $2.28 $2.26 $2.32 CPI-U All Items 4 0.4% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 11. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_August_2022.pdf

4.5% 4.3% Net Job Gains (000s) 2 200.0 211.1 205.8 208.9 203.8 Avg. Gasoline Price 3 $4.26 $4.11 $4.59 $4.92 $4.62 CPI-U All Items 4 7.9% 8 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. CreationDate: 2022-08-22 14:38:06 Creator: Microsoft® Publisher for Microsoft 365 ModDate

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Monthly_Economic_Update_August_2020.pdf

7% n.a. Net Job Gains (000s) 2 -1,065.1 -853.7 -625.3 -541.9 n.a. Avg. Gasoline Price 3 $2.06 $2.03 $2.16 $2.25 $2.24 CPI-U All Items 4 -0.1% 0 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 11. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_April_2022.pdf

5.1% n.a. Net Job Gains (000s) 2 188.8 231.5 215.1 224.1 n.a. Avg. Gasoline Price 3 $3.49 $3.44 $3.42 $3.63 $4.26 CPI-U All Items 4 6.1% 6 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_April_2021_Indicators.pdf

7.4% 7.3% Net Job Gains (000s) 2 -444.7 -480.5 -453.0 -438.1 -369.2 Avg. Gasoline Price 3 $2.26 $2.34 $2.47 $2.63 $2.87 CPI-U All Items 4 0.9% 1 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_April_2021.pdf

7.4% 7.3% Net Job Gains (000s) 2 -444.7 -480.5 -453.0 -438.1 -369.2 Avg. Gasoline Price 3 $2.26 $2.34 $2.47 $2.63 $2.87 CPI-U All Items 4 0.9% 1 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 12. Year-over-year growth rate of S&P 500 closing price. Data as

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Monthly_Economic_Update_April_2020.pdf

6.0% n.a. Net Job Gains (000s) 2 35.4 42.1 60.8 6.2 n.a. Avg. Gasoline Price 3 $2.60 $2.64 $2.53 $2.35 $2.08 CPI-U All Items 4 2.4% 2 payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source: U.S. Energy Information Administration. 11. Year-over-year growth rate of S&P 500 closing price. Data as

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MER-2015-06.pdf

50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values increasing pessimism. 5 Monthly Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of regu- lar gasoline. 6 Commercial Traffic on PA Turnpike Year-over-year growth rate of the volume of commercial truck traffic on the

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MER-2015-03.pdf

50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values increasing pessimism. 5 Monthly Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of regu‐ lar gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

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MER-2015-02.pdf

50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values increasing pessimism. 5 Monthly Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of regu‐ lar gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

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MER-2014-11.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

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MER-2014-10.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

Hits: 2

MER-2014-09.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

Hits: 2

MER-2014-07.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

Hits: 2

MER-2014-06.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

Hits: 2

MER-2014-05.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

Hits: 2

MER-2014-04.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pessimism. 5 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of un‐ leaded gasoline. 6 Commercial Traf Ðic on PA Turnpike Year‐over‐year growth rate of the volume of commercial truck traf Ðic

Hits: 2

MER-2014-03.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pes‐ simism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. 5 Consumer Price Index (PA‐NJ‐DE‐MD) Year‐over‐year change in average price level. Includes outlays for energy

Hits: 2

MER-2014-02.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pes‐ simism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. 5 Consumer Price Index (PA‐NJ‐DE‐MD) Year‐over‐year change in average price level. Includes outlays for energy

Hits: 2

MER-2014-01.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pes‐ simism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. 5 Consumer Price Index (PA‐NJ‐DE‐MD) Year‐over‐year change in average price level. Includes outlays for energy

Hits: 2

MER-2013-12.pdf

than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly traded corporations. Index values indicates increasing pes- simism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) Year-over-year change in average price level. Includes outlays for energy

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IFO_Hearing_Packet_Feb2018.pdf

Price Levels CPI-U 1.6% 0.1% 1.3% 2.1% 2.3% 2.7% 2.2% 1.5% Gasoline -4.1% -27.2% -11.3% 13.2% 6.7% 9.3% 6.0% -5.2% Medical Care 2.4% 1% Pittsburgh CPI-U 1.3% 0.7% 1.6% 2.2% 2.3% 2.6% 2.9% 1.6% Gasoline -2.7% -28.4% -10.4% 18.0% 4.8% 10.0% 5.5% -4.8% Wealth/Debt Metrics Home

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Five_Year_Outlook_Presentation_2021.pdf

corporate income revenues Some pandemic-induced changes partly reverse ▪ Very high profit margins ▪ Consumer spending: more goods, fewer services, less gasoline Others fully revert: labor force participation rates recover ▪ But permanent job loss remains ~350k No further COVID variants that warrant Inflationary Revenue Gains Real (structural) ▪ Remote work – productivity ▪ Higher profit margins (less travel, higher productivity) ▪ Shift to taxable purchases ▪ Lower gasoline consumption Inflationary ▪ Assets: Stock market and home values ▪ Higher prices (cars, durables) ▪ Potential wage-price spiral (too early, not assumed

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EPLC_3_4_2022_update.pdf

vs Dec 2019 Recent Rapid Acceleration of Inflation March 4, 2022 11 Very High (Dec 21) Used Cars +38.1% Gasoline +37.4% Energy +25.1% New Cars +22.4% Relatively Low (Dec 21) Education-Comm +1.9% Medical Care +3 3 Transportation 14.4 0.0 18.9 21.0 New Vehicles 3.1 2.7 18.7 22.4 Gasoline 2.6 9.6 40.0 37.4 Medical Care 8.7 4.0 2.8 3.3 All Items

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2022_Mid_Year_Update.pdf

ppt, -358k workers Recent Rapid Acceleration of Inflation January 31, 2022 10 Very High (Dec 21) Used Cars +38.1% Gasoline +37.4% Energy +25.1% New Cars +22.4% Relatively Low (Dec 21) Education-Comm +1.9% Medical Care +3 3 Transportation 14.4 0.0 18.9 21.0 New Vehicles 3.1 2.7 18.7 22.4 Gasoline 2.6 9.6 40.0 37.4 Medical Care 8.7 4.0 2.8 3.3 All Items

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2012-12 Monthly Economic Summary FINAL.pdf

indicates increasing pessimism. 6 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 7 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year to Christmas Eve that show retail sales growth of only 0.7 percent over last year. (Data exclude restaurant, automobile, gasoline and grocery sales.) Supporting the weak sales figures, the University of Michigan Consumer Confi- dence Index declined precipitously from 82

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2012-09 Monthly Economic Summary 7.pdf

generally indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly trad- ed corporations. Index number indicates increasing pessimism. 6 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. 7 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

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2012-08 Monthly Economic Summary_Final.pdf

generally indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the stock prices of 500 top publicly trad- ed corporations. Index number indicates increasing pessimism. 6 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. 7 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 2

2012-07 Monthly Economic Summary10.pdf

panding. Data are from the Institute of Supply Management. Average Gas Price National average price for one gallon of unleaded gasoline. Data are from the Energy Information Administration. S&P 500 Index An index based on the stock prices of 500 Federal Reserve Bank of Philadelphia. Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gallon of unleaded gasoline. Data are from the Energy Information Administration. Consumer Price Index (PA-NJ-DE-MD) A measure of the average change

Hits: 2

2007_divestment_complete_report.pdf

including by providing 18 supplies or services in support of such activities, except 19 that the mere retail sale of gasoline and related consumer 20 products are not oil-related activities. 21 "Power production activities." Any business operation that 22 involves hmoore on PRODPC68 with HMBILLS - 401 - 28 HR 180 RFS shall not be considered to be involved in an 1 oil-related activity. 2 (13) POWER PRODUCTION ACTIVITIES.—The 3 term ‘‘power production activities’’ means— 4 (A) any business operation that

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Revenue_Estimate_Presentation_2022_05.pdf

Total and Components Note: Taxable includes food away from home, cars, furniture, appliances, recreation and communications. Non- taxable includes shelter, gasoline, groceries, healthcare, fuels-utilities and other services. Source: U.S. Bureau of Labor Statistics. -2% 0% 2% 4% 6% 8%

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Revenue_Estimate_2021_05_Presentation.pdf

14.4 -3.8 -0.4 13.0 New and Used Vehicles 7.5 1.5 2.9 11.0 Gasoline 2.6 -2.8 9.6 36.4 Medical Care 8.7 0.8 4.0 4.4 All Items

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Revenue-Estimate-2019-05-Presentation.pdf

1 60.4 50.8 Philadelphia CPI-U 0.5% 1.6% 1.7% 1.3% 1.5% Mid-Atlantic Gasoline 13.7% 22.8% 7.7% -5.3% -0.8% Home Price Index 6.2% 5.4% 4.6% 5

Hits: 1

PSBA_January_19_2022.pdf

Labor Statistics. Advance CTC starts Economy: Recent Acceleration of Inflation January 19, 2022 4 Very High Used Cars +38.1% Gasoline +37.4% Energy +25.1% New Cars +22.4% Relatively Low Education-Comm +1.9% Medical Care +3.3% Shelter

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Presentation_PICPA_9-24-2013.pdf

2.8% Furniture & Electronics 1.2% Building & Garden Equipment 5.4% Food and Beverage 2.5% Health & Personal 0.2% Gasoline Stations -0.1% Clothing 2.4% General Merchandise 0.3% Non-Store (e-commerce) 10.5% Food Services 3.9%

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Presentation_2016-06-08_GPNP_Budget_Outlook.pdf

5% 8.5% 8.4% 8.4% Healthcare 5.5% 6.7% 7.5% 9.5% 12.5% 15.4% Gasoline 5.9% 5.8% 5.6% 5.5% 4.9% 3.6% Cash Contributions 2.3% 2.8% 3.7%

Hits: 1

PICPA_Presentation.pdf

2.1% 1.1% PA Home Price Index 3.0% 3.8% 3.7% 3.6% n.a. Mid-Atlantic Gasoline -15.1% -13.0% 6.1% 25.8% 9.4% U.S. Domestic Profits -7.7% 0.3% 8.0%

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PICPA Presentation_ June 11, 2019.pdf

1 60.4 50.8 Philadelphia CPI-U 0.5% 1.6% 1.7% 1.3% 1.5% Mid-Atlantic Gasoline 13.7% 22.8% 7.7% -5.3% -0.8% Home Price Index 5.9% 5.4% 4.7% 5

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PICA_Presentation_2020_11.pdf

state government. Source: U.S. Bureau of Labor Statistics. COVID-19 Produces Permanent Structural Changes Telecommuting and remote working  Gasoline consumption down ~10% | ~$1.5 billion spending (redirected)  Excess supply in commercial real estate rental market  Less business

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PBB_Board_Hearing_Apr_27_2021.pdf

Broadband and Technology Initiatives ($3 million). PennDOT Metric Highlights Pandemic likely has significant and long-term implications for the department ▪ Gasoline consumption is down by roughly 10% ▪ The department scaled back construction lettings in CY 2020 due to reduced revenues ▪ Public

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PBB_2019_DGS_Report.pdf

the purchase price, average maintenance (excluding collision) and reimbursement factor (for downtime reimbursement expense). It does not include gasoline or in- surance costs.  Fleet vehicles per activity FTE. The average number of fleet vehicles managed by one FTE employee. This

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PA_Assoc_of_Community_Bankers_Presentation_2020_12.pdf

state government. Source: U.S. Bureau of Labor Statistics. COVID-19 Produces Permanent Structural Changes Telecommuting and remote working  Gasoline consumption down ~10% | ~$1.5 billion spending (redirected)  Excess supply in commercial real estate rental market  Less business

Hits: 1

PASBO_March_17_2021.pdf

preparation, entertainment, remodels Remote working is here to stay  Impacts restaurants, dry cleaners, formal/business casual clothing sales  Gasoline consumption down 10% for FY 2020-21 Businesses tighten belts  Operations and procurement | travel and meals/entertainment | leased space

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Newsstand_March_2020.pdf

sales data. Feb- ruary (seasonally adjusted) retail sales were $528.1 billion, a 0.5 percent decline from January. If gasoline pur- chases are excluded, the decline was 0.3 percent. Sales at restaurants and bars declined 0.5 percent while

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NewsStand_2019_December.pdf

STAND November Retail Sales An article by the Wall Street Journal reports that November retail sales, excluding motor vehicle and gasoline sales, remained steady compared to October 2019. Within retail sales, the clothing, department store and sport- ing goods categories recorded

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Newsstand_2019_April.pdf

prices increased by 1.5%. Food and beverage prices increased by 1.0% and medical care by 3.9%, while gasoline declined by 11.0%. Excluding energy, the Philadelphia CPI-U increased by 1.9% from the prior year. - April 2019-

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MSC_March_31_2022.pdf

non-seasonally adjusted. Recent Rapid Acceleration of Inflation March 31, 2022 13 Very High (Feb 22) Used Cars +42.7% Gasoline +31.6% Energy +25.1% New Cars +22.2% Relatively Low (Feb 22) Medical Care -0.2% Education-Comm +1

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MSC_March_31_2021.pdf

preparation, entertainment, remodels Remote working is here to stay  Impacts restaurants, dry cleaners, formal/business casual clothing sales  Gasoline consumption down 10% for FY 2020-21 Businesses tighten belts  Operations and procurement | travel and meals/entertainment | leased space

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MRU-2020-10.pdf

that likely lowered household monthly payments/increased cash flow and (3) a shift in spending from out-of-state travel, gasoline, etc., to home furnishings, electronics and other taxable household goods. SUT growth is expected to slow in the coming months

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MER-2013-11.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) Year-over-year change in average price level. Includes outlays for energy

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Memo-2019-03-Income-and-Property-Tax-Burden-for-Retirees.pdf

U.S. Weighted Avg. U.S. Average Tax Rx Non-Rx Legal Financial Accounting State Rate Groceries Clothing Meds Meds Gasoline Services Services Services Alabama 4.00% Taxable Taxable Exempt Taxable Exempt Exempt Exempt Exempt Alaska None Taxable Taxable Taxable Taxable

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House_Maj_Policy_Com_Testimony_June_8_2022.pdf

rate since December 1981. • Excluding shelter (largely imputed rent to homeowners) the rate is 9.6% (not shown). • Energy prices (gasoline and utility bills) are a clear driver of inflation. Energy prices were up 33% from the prior year and comprise

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GPNP July 10, 2012 final.pdf

lows.  PA mortgage delinquencies declining rapidly.  Consumers  Vehicle sales remain strong. Some pent up demand remains.  Gasoline prices have declined and are stable. 10.Jul.2012 15 2012 GPNP Conference 0.0 2.5 5.0 7

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Five_Year_Outlook_2020_Presentation_Final.pdf

Long-term: only a partial reversion to old spending patterns  A permanent acceleration to online purchases  Redirected spending: gasoline purchases, dry cleaning, concert events January 21, 2021 16 Expenditure Outlook: Strong Growth for FY 2021-22 January 21, 2021

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Five_Year_Outlook_2019.pdf

August 2019 reveal somewhat higher inflation for the current year (1.9 percent), but deflation for clothing and gasoline. The forecast assumes a minor deceleration of inflation for calendar year (CY) 2020 (1.5 percent) that is consistent with a modest

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Economic_and_Revenue_Update_2020_10.pdf

refinancings that likely lowered household monthly payments, and (3) a shift in spending from out-of-state travel, gasoline, etc., to home furnishings, electronics and other taxable household goods. Consumer expenditures are expected to fall in the coming months, with less

Hits: 1

CompetePA_March_11_2021.pdf

preparation, entertainment, remodels Remote working is here to stay  Impacts restaurants, dry cleaners, formal/business casual clothing sales  Gasoline consumption down 10% for FY 2020-21 Businesses tighten belts  Operations and procurement | travel and meals/entertainment | leased space

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2013-10 Monthly Economic Summary.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) Year-over-year change in average price level. Includes outlays for energy

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2013-09 Monthly Economic Summary-FINAL.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) Year-over-year change in average price level. Includes outlays for energy

Hits: 1

2013-08 Monthly Economic Summary.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) Year-over-year change in average price level. Includes outlays for energy

Hits: 1

2013-07 Monthly Economic Summary.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2013-06 Monthly Economic Summary - FINAL.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2013-05_Monthly_Economic_Summary.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2013-04 Monthly Economic Report.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2013-03b Monthly Economic Summary.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2013-02 Monthly Economic Report.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2013-01 Monthly Economic Report.pdf

indicates increasing pessimism. 4 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 5 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2012-11 Monthly Economic Summary- DRAFT 6.pdf

indicates increasing pessimism. 6 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 7 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1

2012-10 Monthly Economic Summary FINAL.pdf

indicates increasing pessimism. 6 Average Gas Price Central Atlantic (PA, NY, NJ) average price for one gal- lon of unleaded gasoline. 7 Consumer Price Index (PA-NJ-DE-MD) A measure of the average change in prices over the past year

Hits: 1