State gas taxes in New Jersey will rise to 50.7 cents per gallon. Gas consumption is down in the COVID-19 recession, triggering a hike under a state formula.
New Jersey's gas tax rises each year as sales decline, to ensure the state a steady level of revenue. The stay-at-home order has made gasoline sales shrivel.
Gasoline sales continue to decline in New Jersey, raising the possibility of another gas-tax hike this fall. The Murphy administration thinks it can be avoided.
Gas prices in New Jersey are set to increase on November 1st as the gas tax hike goes into effect. Something else that will increase in response? Uber rates.