The gas tax is adjusted each year, depending on recent collections and a forecast for the year ahead. Last year's 9.3-cent hike is being mostly reversed.
At Assembly budget committee hearing, the state transportation commissioner warns the budget adopted next summer will be quite challenging for NJ Transit.
State gas taxes in New Jersey will rise to 50.7 cents per gallon. Gas consumption is down in the COVID-19 recession, triggering a hike under a state formula.
New Jersey's gas tax rises each year as sales decline, to ensure the state a steady level of revenue. The stay-at-home order has made gasoline sales shrivel.
Legislation creates panel to study how to pay for upkeep of New Jersey’s roads and bridges, as electric cars that don't pay gas taxes become more prominent.
Gasoline sales continue to decline in New Jersey, raising the possibility of another gas-tax hike this fall. The Murphy administration thinks it can be avoided.