NC Fuel Taxes Could Go Up

RALEIGH (AP) — North Carolina's gasoline tax could go up under a bill moving its way through the Senate.

The Senate voted 34-12 Thursday to require that the motor fuels tax be no less than the current rate of 29.9 cents per gallon through mid-2011.

The tax historically has been readjusted twice a year based on the wholesale price of gasoline. The Legislature agreed in 2006 to cap the rate at no more than 29.9 cents following high gas prices after Hurricane Katrina.

Bill sponsor Sen. Clark Jenkins of Edgecombe County said creating a floor for the tax will provide more road-building funds. The change could generate an additional $67.5 million because the tax may be higher than it's been under the cap.

A final Senate vote could come next week.

http://www.salisburypost.com/Area/040709-NC-XGR--GasTax

So inbetween that tax hike and the gas price just going up, looks like we will be paying big bucks again soon.

http://www.ask.com/bar?q=predictions+on+gas+prices&page=1&qsrc=0&ab=1&u=http%3A%2F%2Fwww.thegasgame.com%2F2009%2F03%2F21%2Flooking-for-new-price-highs-for-2009%2F

Wednesday 06 May 2009 | Posted By Ed Aboufadel | Commentary

Wednesday, May 6, 2009, 7:30 AM: Another price hike yesterday — to $2.29 — and it starting to feel a bit like the first half of 2008. I write this because wholesale prices shot up 20 cents over the past week, so retail prices have followed, and we have our highest prices of the year. Last year, wholesale prices seemed correlated to the stock market, and if you have been following, stocks have been doing better lately. I also understand there are some short-term supply issues right now connected to switching over to the summer gas formulation. I don’t anticipate another hike this week, but Patrick’s $2.50 prediction for this summer is reasonable. I don’t want to think that far ahead.