Gas Prices in Connecticut Rising

February 27, 2012

Sen. Boucher: Cap the Gross Receipts Tax

Sen. Toni Boucher (R-Wilton) Ranking member of the Transportation Committee released this statement re: high gas prices in Connecticut.

“Although the market fluctuation on the price for a barrel of oil is a global problem, it is much worse in Connecticut due to our tax structure. Connecticut has two gas taxes, a state excise tax and a state percentage tax (gross receipts petroleum tax) that goes up when the price of gas goes up.

“This gross receipts petroleum tax has risen from a 5% tax, to a 7% tax, to an 8% tax. This is onerous and must be capped or eliminated, as it makes Connecticut gasoline prices one of the highest in the country.

“The federal and state governments are riding on the back of the public’s gasoline consumption. This also depresses the economy further by lowering everyone’s disposable income.”

Source: U.S. Energy Information Administration, part of the U.S.
Department of Energy.