The state Department of the
Treasury announced a
drop in the gas tax Friday by 8.3 cents, but many New
Jersey residents say they haven’t seen a change at the pump.
Drivers shouldn’t expect an
immediate drop at the pump because the gas currently in the tanks at stations
is already paid for. Until the tanks are refilled, drivers will have to
wait to see the prices come down.
Drivers should also keep in mind
that the price of crude oil is at the highest it's been for 2021, and that's a contributing factor to
what drivers pay when they fill up.
“Crude oil closed Friday over $75
per barrel and that price alone makes up three quarters of the price that we
see at the pump,” says Tracy Noble, spokesperson
for AAA Mid Atlantic.
This is the time of year when
stations are switching from the more expensive summer blend fuels to the less
expensive winter blends. As the switchover to the winter blend fuels happens,
the price of gas will go down.
Until then, AAA says to be
savvy consumers and shop around. Once the current tanks are emptied at
stations, drives should see the 8 cent decrease from the tax rate being
lowered.