Fuel Tax Increases

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July first marks a new fiscal year for many state governments and this year we’re going to see a near record-setting number of fuel tax increases.  Each state has its own justification for the increase and reasons vary from a need to repair severely storm-damaged infrastructure to preset incremental increases.  Some will see changes so small that consumers won’t even notice, but others, like Vermont have no fear of the shock factor and added FIFTY FIVE cents per gallon to their gasoline tax!  Here in Maryland we’re seeing an increase of 1.4 cents per gallon on both gas and diesel. Other states with changes include CA, CT, IL, OH, MI, MT, NE, SC and TN.