North Carolina’s motor fuels tax is about to fall, but the change amounts to a drop in the bucket.
The tax for gasoline, diesel, and alternative fuels will decrease from 37.6 cents to 37.5 cents per gallon for the period from Oct. 1 through Dec. 31.
A statement from the N.C. Department of Revenue said the tax rate is computed using a flat rate of 17.5 cents per gallon and a variable wholesale component, either 3.5 cents or 7 percent of the average wholesale price of motor fuel during the preceding six months, whichever is greater.
North Carolina legislators passed a measure which went into effect in July and caps the motor fuels tax rate at 37.5 cents per gallon effective Oct. 1.
Article courtesy of WRAL.