Tue09022014

Last update11:54:37 PM

Font Size

Profile

Menu Style

Cpanel
 
Back You are here: Home News Local and State News State North Carolina Motor Fuels Tax Rate Increases July 1st

North Carolina Motor Fuels Tax Rate Increases July 1st

RALEIGH, N.C. : June 15, 2013 - The North Carolina motor fuels tax for gasoline, diesel, and alternative fuels will increase from 37.5 cents per gallon to 37.6 cents per gallon for the period from July 1, 2013 through December 31, 2013, Secretary of Revenue Lyons Gray announced today.
The tax rate is computed using a flat rate of 17.5 cents per gallon and a variable wholesale component. The variable wholesale component is either 3.5 cents or 7 percent of the average wholesale price of motor fuel during the preceding six-month base period, whichever is greater.  The average wholesale price is a weighted average of the wholesale prices of gasoline and No. 2 diesel fuel.  The average price for the last base period was $2.8743 cents per gallon.
The new rate should be used beginning with gasoline, diesel, and alternative fuels reports for July 2013 that are to be filed with the Department of Revenue in August 2013.  The state motor fuels tax is included in the retail price paid by consumers at the pump.