With the start of the new year, New Jersey drivers are facing higher costs at the pump. The state's gasoline tax has increased by 2.6 cents per gallon due to a law aimed at raising funds for repairing roads and highways and supporting transit projects. This tax hike means that drivers in New Jersey are now paying nearly 50 cents in taxes for each gallon of gas, making it the eighth highest gas tax burden in the United States.
As a result of the increase, the average price of a gallon of regular gasoline in New Jersey has risen to $2.94. Despite this rise, the average national price for a gallon of regular gas remains higher, costing 10 cents more than in New Jersey.
The additional revenue from the gas tax is intended to address the state's infrastructure needs, ensuring safer and more efficient travel for residents and visitors alike.