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New Gas Tax Law Saves Pennies Per Gallon

Connecticut is among the highest in the nation when it comes to gas taxes, but a law being signed by Gov. Dannel P. Malloy will bring that number down a bit.

Connecticut’s gas taxes are nearly the highest in the nation, but motorists hoping to save a lot by the legislature’s new cap on gas taxes should keep expectations low. The law, being signed by Gov. Dannel P. Malloy today, is predicted to lower the price by two cents per gallon. 

According to NBC Connecticut, lawmakers believe the cap on the wholesale price of gas whenever it hits more than $3 a gallon will have a greater impact if prices continue to rise.  

A January 2012 review of gas taxes and fees in each state by the American Petroleum Institute put Connecticut at the top with 67 cents per gallon. The only higher state was New York at 67.4 cents. Neighboring states Massachusetts and Rhode Island were at 41.9 cents and 51.4 cents, respectively. 

For taxes on the wholesale price of gas, Connecticut was fourth in the nation before the law. The average price of gas as of Tuesday is $4.09, according to GasBuddy.

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