image description

Gas Tax Increase Goes Into Effect Today

July 1st, 2014 by WCBC Radio

The new fiscal year in Maryland begins today, and that means gasoline prices are going up slightly, due to an increase in gasoline taxes, that were approved by the legislature last year.  Under the legislation, gas taxes would increase both based on the inflation rate, and on a four year effort to phase in the state's six-percent sales tax on gasoline.  Part of that phase-in took effect on July 1, of last year, when the gas tax increased 3.5-cents-a gallon.  As of today, the tax will go up by 4-tenths-of-a-cent per gallon, then the tax goes up about 8-cents a gallon in July of next year and July of 2016. Money from the tax increase is paying for road, bridge and mass transit projects.  The tax hike takes effect as motorists in Maryland are paying three cents more at the pump when compared with a week ago.  AAA Mid-Atlantic said Friday in a weekly report that the average price of a gallon of regular unleaded gas in Maryland was $3.70, up from $3.67 a week ago. ..





Leave a Reply

 



View Mobile Site