Connecticut motorists can’t blame higher gasoline prices on the cost of oil alone. While the state and federal gasoline excise taxes are a constant, Connecticut’s has another tax on gasoline that rises and falls with prices. The Gross Receipts Tax, also known as the oil company tax, is a percentage charged on the wholesale price of gasoline.

In the past two months, the 7.53% tax has risen from roughly 19 cents a gallon to 23 cents, according to Gene Guilford, who serves as president of the Independent Connecticut Petroleum Association, which represents local gasoline and heating oil retailers.

The Gross Receipts Tax is on top of the state gasoline excise tax of 25 cents a gallon and the federal excise tax of 18.4 cents a gallon.

The average price for a gallon of  regular gasoline in Connecticut was $3.82 on Monday, according to the AAA’s Daily Fuel Gage Report, up from $3.68 a month ago and $2.93 a year ago.

Comments (2)
  1. Mike Hunt says:


  2. Mike Brown says:

    It would be one thing if this tax was spent to fund the transportation systems. Unfortunately this money will be spent on things like chauffeur service for our elected official.

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

More From CBS Connecticut

Watch CBSN Live
CBS Entertainment

Listen Live