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State Economy Growing in Spite of High Fuel Prices (May 03, 2011)

OKLAHOMA CITY (AP) — Oklahoma Treasurer Ken Miller says the state's economy continues to show signs of growth in spite of rising fuel prices, with income and sales tax collections outpacing revenue from a year earlier.

Miller said Tuesday broad measurement of the state's economy in April shows receipts to the state treasury totaled almost $1.1 billion. That's an increase of $94 million, or more than 9 percent, over last April.

Miller says over the past year, gross collections were almost $10 billion, an increase of $579 million, or 6 percent, over the previous 12 months.

Miller says gasoline tax collections declined last month when compared to April 2010 but diesel fuel collections rose. With gasoline prices approaching $4 a gallon, Miller says Oklahomans may start driving less and cut spending in other areas.

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