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New Jersey Confirms It Is Lowering an Automotive Fuel Tax

New Jersey Confirms It Is Lowering an Automotive Fuel Tax

A New Jersey automotive fuel tax is being lowered by one-cent per gallon, as confirmed by the Acting State Treasurer Elizabeth Maher Muoio

Bloomberg reported on the update, which was announced on Monday, August 29:

The petroleum products gross receipt charge will drop to 30.9 cents for gasoline and 34.9 cents for diesel on Oct. 1. With the state’s separate motor fuels tax added, the combined per-gallon state fees will be 41.4 cents and 48.4 cents, respectively.

Muoio stated that the reduction comes after consumer demand was higher than expected. In an official statement, the Treasurer noted:

“Because actual consumption in Fiscal Year 2022 was moderately above our projections made last August, and consumption in the current fiscal year is projected to be slightly above last fiscal year’s levels, our analysis of the formula dictates a one-cent decrease this coming October."

A detailed chart regarding the Garden State's Petroleum Products Gross Receipts Tax (PPGRT) can be found on NJ.gov.

Local news website ROI-NJ pointed out that the term "gas tax" actually refers to two separate taxes in New Jersey -- the PPGRT and the Motor Fuels Tax.

Only the PPGRT is being lowered when October 1 rolls around. The Motor Fuels Tax is currently fixed at 10.5 cents for gasoline and 13.5 cents for diesel. 

What do you think about the PPGRT being lowered later this year?

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Rebekah Barton

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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