July 23, 2024

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Fill Up Your Wallet, Not Your Tank: Illinois Gas Tax Jumps to 47 Cents on July 1st

2 min read
Illinois gas tax increases to 47 cents per gallon on July 1st, making it the second-highest in the US. Learn how this impacts drivers, wallets, and summer travel plans.
Illinois gas tax

Fill Up Your Wallet, Not Your Tank: Illinois Gas Tax Jumps to 47 Cents on July 1st

Just in time for summer road trips, Illinois drivers are about to feel the pinch at the pump. The state’s already hefty gas tax is set to increase to a whopping 47 cents per gallon starting July 1st, making Illinois home to the second-highest gas tax in the nation.

This increase comes thanks to a 2019 law that doubled the gas tax and tied it to inflation. So, while inflation pushes prices up across the board, Illinois drivers will see their gas costs rise even faster due to the automatic tax increase.

Here’s what this means for you:

  • Deeper Pockets, Lighter Wallets: The Illinois Policy Institute estimates the average driver will pay an extra $184 per year in state gas taxes compared to when the tax was doubled in 2019. That’s a significant chunk of change, especially considering rising costs everywhere else.
  • Pain at the Pump: This increase adds insult to injury for Illinois residents already struggling with high gas prices. With summer travel season upon us, many families were likely budgeting for road trips. This tax hike throws a wrench into those plans.
  • Who Feels it Most? While everyone will pay more, lower and middle-income families are often hit hardest by gas tax increases. These families typically spend a larger portion of their income on transportation, making even small price jumps a major burden.

What’s Next?

Illinois lawmakers have defended the gas tax hike, saying the revenue will be used to fund critical infrastructure projects. However, many residents are questioning the efficiency of that spending and wondering if there aren’t better ways to raise revenue without putting the squeeze on taxpayers.

Only time will tell how this latest gas tax hike will impact Illinois drivers and the state’s economy. But one thing’s for sure: filling up your tank is about to get a whole lot more expensive.

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