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New Jersey’s Gas Tax Increase: Expect Higher Fuel Prices Beginning on New Year’s Day


Starting on New Year’s Day, drivers in New Jersey will see a 2.6 cent increase in the state’s gas tax, bringing the total to 44.9 cents per gallon. This 6% increase is part of a required review under a new law aimed at supporting the state’s transportation infrastructure fund through 2029. This adjustment is necessary to meet a revenue target of about $2 billion.

The Tax Foundation reports that New Jersey will remain among the top 10 states with the highest gas tax in the country. The tax rate can fluctuate under the new law, with previous adjustments ranging from less than a penny to more than eight cents.

Despite the increase, New Jersey’s average gas price of $2.98 is lower than the national average of $3.05 per gallon. Drivers across the state will need to budget for this slight increase at the pump as they ring in the new year.

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Photo credit abc7ny.com

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