Congrats, N.J.! Gas tax dropping by a single cent effective October 1st

Don’t spend it all in one place, Save Jerseyans.

On Monday, the New Jersey Department of the Treasury announced a ***massive*** one cent per gallon gas tax decrease effective October 1st.

“Because actual consumption in Fiscal Year 2022 was moderately above our projections made last August, and consumption in the current fiscal year is projected to be slightly above last fiscal year’s levels, our analysis of the formula dictates a 1.0 cent decrease this coming October,” said State Treasurer Elizabeth Maher Muoio. “We are pleased that this dedicated funding stream continues to provide billions of dollars across the state to support our critical transportation infrastructure needs.”

The hugely controversial “formula” was enacted back in 2016 as part of a Trenton deal between Chris Christie and Steve Sweeney to fund the Transportation Trust Fund (TTF). New Jersey’s per gallon tax – once among the lowest in the nation – will tick lower from 31.9 cents to 30.9 cents.

New Jersey’s average gallon of regular gasoline currently costs $3.949 which is still around $1 more expensive than it was when President Trump departed the White House.

Matt Rooney
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MATT ROONEY is SaveJersey.com's founder and editor-in-chief, a practicing New Jersey attorney, and the host of 'The Matt Rooney Show' on 1210 WPHT every Sunday evening from 7-10PM EST.