It has been announced that New York will be eliminating their gas tax until at least the end of 2022 to offset the record-setting gas prices. Will NJ follow?
New Jersey reportedly has the fourth highest gas tax in the nation. While the Garden State continues to pay over $4 a gallon at the pump, lawmakers are turning their attention towards temporarily lowering that tax.
We suspect lines at gas stations across South Jersey will be a little longer than normal today as the state's gas tax will jump by almost a dime per gallon at midnight.
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.