California's gasoline excise tax increased from 59.6 cents to 61.2 cents per gallon as of July 1. This increase is part of Senate Bill 1, aimed at raising $52.4 billion over 10 years for road maintenance and rehabilitation. Since 2018, the tax has grown by 20 cents, making California's tax the highest in the nation. Additionally, the California Air Resources Board approved updates to the Low Carbon Fuel Standard, promoting cleaner fuel options and transitioning to electric vehicles, impacting fuel credit prices.
The gasoline excise tax in California increased from 59.6 cents to 61.2 cents per gallon on July 1, as part of Senate Bill 1.
Senate Bill 1 aims to raise $52.4 billion over 10 years, with significant funding allocated for road maintenance, rehabilitation, and sustainable transportation projects.
California has the highest gasoline excise tax in the United States, significantly impacting fuel prices and contributing to ongoing political discussions.
The California Air Resources Board's updated Low Carbon Fuel Standard promotes cleaner fuels, adjusting credit prices and incentivizing a shift to electric vehicles.
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