Diesel Fuel Taxes to Increase in Multiple States from July 1st
As the average price of diesel fuel shows a downward trend, several states in the US are preparing to make changes to their diesel fuel taxes, effective from July 1st. While Utah is lowering its tax rate, other states are increasing their taxes to combat inflation and fund infrastructure projects.
California will raise its diesel fuel excise tax by 3.1 cents to 44.1 cents per gallon, Illinois will increase its tax by 3.1 cents to 52.9 cents per gallon, and Indiana will see a one-cent increase to 56 cents per gallon. Kentucky will raise its diesel taxes by 2.1 cents to 25.1 cents per gallon, and Maryland will hike its taxes to 47.75 cents per gallon. Missouri will also experience an increase in taxes, with the rate rising to 24.5 cents per gallon, as part of a series of planned annual increases. On the other hand, Utah will decrease its tax to 34.5 cents per gallon, and Virginia will raise its diesel taxes to 29.8 cents per gallon.
U.K. Prime Minister Rishi Sunak has announced a delay in several key emissions-reduction targets, including pushing back the ban on the sale of new gasoline and diesel cars from 2030 to 2035.