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N.C. Gas Tax to Increase by 4 Cents in 2012

RALEIGH, N.C. -- North Carolina Revenue Secretary David Hoyle announced this week that the state's motor fuels tax will increase by 3.9 cents to a total of 38.9 cents per gallon as of Jan. 1, according to The Sun News.

The tax is automatically recalculated twice a year based on a wholesale gas prices-linked formula. When the increase goes into effect, it will mark a record high for the state tax.

The amount of the increase reportedly fits with projections made last month, when the North Carolina House of Representatives suggested capping the tax at 35 cents for six months, as CSNews Online previously reported. However, the state Senate declined to consider the bill.

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