South Carolina’s tax on gasoline currently stands at 35.2 cpg. In comparison, our neighboring states of Georgia and North Carolina have gas tax rates of 44.4 and 48.6 cpg, respectively, according to southcarolinagastaxes.com. Figures include 18.4 cpg federal tax.
With gas prices plummeting and South Carolina tax revenues in freefall, it would be a good time to raise South Carolina’s gas tax by 10 cpg, to be more in line with our neighboring states.
With gas prices so low, an additional floating tax of 10 cpg should be enacted, to be removed when gas prices again reach 2.50 dpg, because you know they will be going back up.
Raising the gas tax would provide the state with much needed revenue, hopefully to be earmarked for transportation infrastructure improvements. It would also help encourage conservation of something that we import 100% of. The less gasoline we import, the more wealth remains in our state.
To those that say it would hurt businesses that depend on gasoline, I would like to point out that just a few months ago fuel prices in our state were pushing four dollars a gallon, and if both of these proposals were enacted now, the price of gasoline in South Carolina would still be around two dollars a gallon.
The time is right for this, with no hesitation or delay.