10% more taxes at the pump compared to a year ago
by Guy Page
Taxes on gasoline sold in Vermont will rise July 1, the Vermont Fuel Dealers report. Total state and federal taxation will be 55.36 cents per gallon (cpg), about a 10% tax increase from a year ago.
Much of the added revenue will go to the Vermont Transportation Fund, which supports state transportation funding. This year’s transportation budget is $200 million larger than any previous budget, and includes heavy spending for electric cars and infrastructure, electric bicycles, and subsidies for public transportation. The state’s transportation budget also draws heavily on federal funding.
The Vermont Motor Fuel Transportation Infrastructure Assessment Fee (MFTIAF) and Motor Fuel Tax Assessment Fee (MFTAF) for July, August, and September have been set. Both of these fees are indexed to the retail cost of a gallon of gasoline – which is at record levels this spring.
Other components of gasoline taxation are based on gallons sold, regardless of the retail price per gallon.
Total state and federal taxes on gasoline sold in Vermont will be 55.36 cents per gallon (cpg) in Q3 2022. The new rate is a 4.36 cpg increase from the prior quarter and a 5.68 cpg increase from a year ago.
Go to vermontfuel.com/motorfuel to find out the new rates, an explanation of how Vermont taxes motor fuels, and other helpful information.