It’s obvious that a $10-a-barrel tax on oil would translate into higher prices for gasoline at the pump. But how much higher?

The White House on Thursday said President Barack Obama will propose a $10-a-barrel tax on each barrel of oil to pay for clean transportation projects. The tax, which will be part of the budget request Obama sends to Capitol Hill next week, would be paid by oil companies and gradually phased in over five years. The measure, however, isn’t expected to go far. MORE