FAIRVIEW, N.C. — North Carolina drivers could soon see some relief at the pump. A new law suspends the state’s 41-cent-per-gallon gas tax through the end of November, though it could take time for those savings to reach drivers.
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It will be up to the market to determine how much of the savings oil companies pass on to drivers.
Farmers joined Gov. Josh Stein Friday morning at Hickory Nut Gap Farms in Fairview for the signing.
“Every dollar counts when folks are struggling to pay their bills at the end of the month,” Stein said. “But this is not a comprehensive solution to people’s struggles.”
The House passed the bill earlier this week, voting 111-1 to suspend North Carolina’s 41-cent-per-gallon gas tax.
The bill, titled the Relief at the Pump Act, goes into effect Saturday, but there may be delays before you see the reduction because stations have already paid the tax on the gasoline in their tanks.
The state relies heavily on motor fuel taxes to fund transportation.
Suspending the tax through the end of November will reduce transportation revenue by an estimated $360 million.
Motorist Ronnie Cole is like most across North Carolina. He looks forward to paying a little less for gasoline.
However, he is concerned about the impact on state projects.
“It’s a catch-22 given that the taxes are used for other things, but at the same time, it’s expensive to drive right now,” Cole said.
Democratic House of Representatives candidate Jamie Ager, along with North Carolina State Rep. Lindsay Prather were also at the signing.