New Jersey Department of Treasury announced on Tuesday that the gas tax rate in the state will decrease by 8.3 cents per gallon beginning Oct. 1. It is the first gas tax reduction since its inception in 2016.
The law enacted in 2016 in New Jersey imposed a tax on gasoline and diesel fuel purchases by motorists to generate funding for maintenance and improvement of the state’s roadways and bridges. The tax has been expected to provide $16 billion over eight years.
