N.J. Raising Gas Tax by 20% to Help Cover Spending on State Roads
- State law empowers governor’s administration to take step
- Step, required under 2016 law, will help cover funding deficit
Photographer: Luke Sharrett/Bloomberg
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New Jersey will raise its per-gallon gasoline and diesel tax by 20 percent to help cover the $2 billion a year the state needs for transportation projects.
The 4.3-cent-per-gallon increase, to 26.9 cents, will go into effect on Oct. 1, Treasurer Elizabeth Muoio said in a statement. In all, state and federal per-gallon charges will total 59.72 cents, ninth-highest among U.S. states, according to data from the American Petroleum Institute, a Washington-based trade group.