December 3, 2024 | njspotlightnews.org
Credit: Image by pencil parker from Pixabay
New Jersey’s per-gallon gas tax will increase by 2.6 cents, starting on Jan. 1, according to officials from the state Department of the Treasury.
The rate hike will bring the state’s per-gallon levy to 44.9 cents for gasoline, and 51.9 cents for diesel fuel, Treasury officials said.
The tax increase is required under state law to ensure there is adequate funding for ongoing statewide transportation-infrastructure investments.
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NJ SEED: NJ has one of the highest gas taxes in the nation. The state has legislatively created a mechanism to help fund the Transportation Trust Fund through an annual gas tax adjustment. As more and more EVs take to the state’s roads the annual adjustment will likely always result in a gas tax increase.
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