State Treasurer Elizabeth Muoio says there ill be no increase in New Jersey’s gas tax for the current year.
Muoio is responsible for an annual review of fuel consumption data to determine what tax rate is necessary to provide $15 billion over eight years to pay for improvements to the state’s roads and bridges.
The rate will remain at 41.4 cents on gasoline and 48.4 cents on diesel fuel.
“We’re pleased that fuel consumption levels, coupled with our realistic projections last year, have allowed us to avoid an increase in the gas tax rate for this year,” said Muoio. “This dedicated revenue stream has enabled us to disburse billions in funding across the state to bolster our transportation infrastructure and keep New Jersey moving forward.”