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Another Day in Paradise: California Increases Gas Tax

Rush to buy electric vehicles as gas prices soar As gas prices increase, so does the demand for electric vehicles.LOS ANGELES — California’s gas tax is scheduled to increase on July 1 after legislative leaders rejected Gov. Gavin Newsom’s proposal to suspend the hike to help drivers cope with skyrocketing gas prices at the pump. Here’s what you need to know. How much is it going up? The programmed annual gas tax hike is set to occur on July 1, 2022, with an increase of 5.6%. That takes the current tax up to 53.9 cents per gallon, a jump of 2.8 cents. Drivers will pay nearly 3 cents more per gallon when the inflationary increase takes effect. That tax is built into the price of gas in California, which is hovering around $6.40 per gallon on average. Why is it going up? This automatic increase is due to Senate Bill 1 which was signed into law in 2017 and incrementally raises the fuel excise tax each year.  SUGGESTED: These new California laws go into effect on Friday How do California’s prices compare to the rest of the country? California already has the highest taxes on gasoline in the United States. Gas prices in California are the highest in the U.S., reaching close to $7 per gallon in some parts of the state. The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Thursday for the 16th consecutive day and 17th time in 18 …

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