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California gas prices set for another hike on July 1
New York Post • • business
Key Points:
- California's gasoline excise tax will increase by 2.2 cents per gallon on July 1, raising the total state gas tax to 63.4 cents per gallon, adding to already high fuel costs in the state.
- The tax hike is mandated by a 2017 law that adjusts the gas tax annually for inflation, with revenues funding road maintenance and transportation infrastructure projects.
- Despite recent easing in fuel prices, California's average gas price remains around $5.45 per gallon, significantly above the national average, straining household budgets amid rising living costs.
- Many residents report that higher fuel expenses are forcing them to limit driving and cut other costs, while some express interest in switching to electric vehicles despite concerns over their purchase and repair costs.
- State officials note that gas tax revenues may decline as electric vehicle adoption grows, but gasoline-powered vehicles still dominate California’s registered vehicles for now.
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