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Truckers, Gas Stations Brace for Another Diesel Tax Hike

Posted on the 25 May 2012 by Easytracgps @EasyTracGPS

Connecticut’s trucking and petroleum industries are warning that a nearly 30 percent hike in diesel fuel taxes since last summer — including a nickel bump on July 1 — will hurt their businesses and stymie the state’s economy in general.

And the lobbyist for Connecticut’s largest truckers‘ association said his group would urge state lawmakers to consider rolling back at least some of the latest increase when they meet in special session next month.

“That’s a painful, painful hit in taxes,” said Michael J. Riley, president of the Motor Transportation Association of Connecticut, which represents over 800 companies. “And it comes when movers are on their knees, construction companies aren’t building anything and freight hauling is just beginning to get back on its feet. This is not a business-friendly move.”

Riley was referring to this week’s announcement by the Department of Revenue Services that diesel taxes would rise per gallon from 46.2 cents to 51.2 cents effective July 1. Under a statute adopted five years ago, the diesel tax is adjusted annually using a complicated formula that analyzes wholesale diesel price changes over the prior year, as well as state taxes on regular gasoline.

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EasyTracGPS, Inc.

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