NJ Residents Need To Brace Themselves For The New Gas Tax
NJ residents woke up Monday morning to the tune of hiked up gas prices.
NJ.com reports that taxes on gas sold at the pumps spiked 4.3 cents per gallon this morning. This means that in addition to the 23 cent increase from 2016, we've now got to deal with an average of 40+ more cents added to our fuel cost based on a 10-gallon average.
Why the increase? Well, obviously, because gas purchases are slowing. With the rise of Uber and Lyft, not everyone is driving everywhere as frequently. NJ.com reports that the state has fallen short of its gas sales goals the last two years, over $160 million to be exact.
The only good news is that we're still cheaper than PA and New York. NJ.com says, however, that NJ has some of the highest fuel prices in the country. Forty-one states have cheaper gas than us. Ouch.
Before Christie's administration initiated the first gas tax increase back in 2016, NJ hadn't seen one regarding fuel since 1988.