New Jersey Gas Tax to Rise by Nearly 10 Cents in October
Motorists in the Garden State will have to fork over more at the pump by October, as New Jersey will hike its gasoline tax to try to recoup for lost revenue from lower demand due to the coronavirus pandemic.
New Jersey’s Department of the Treasury announced Friday that a gas tax increase of 9.3 cents a gallon will go into effect on Oct. 1, due to lower fuel consumption trends that have been “exacerbated by the COVID-19 pandemic.”
The state’s treasury department noted that consumption of gasoline declined by a total of 38.7% from March to May, while diesel fuel consumption declined by 16.5%.
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