INDIANAPOLIS — Residents in the Hoosier state have been seeing some relief at the pump with falling gas prices.
According to a recent report from the Indiana Department of Revenue, the relief will be increased in September when one of the gas taxes drops. The DOR released information on Wednesday outlining the gasoline use tax calculation for September. The calculation shows the rate starting September 1 will be 24 cents per gallon, down from 29.4 cents per gallon in June.
The department calculates the gasoline use tax by taking the average retail price per gallon of gasoline in the prior month and multiplying it by the state retail tax of .07 cents. The state said the average retail cost was around $3.42.
September’s gasoline use tax will be more than 5 cents less than August’s tax. This is the largest drop in gasoline use tax since 2014.
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