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RALEIGH -
Get ready for a tiny tax cut.On July 1, North Carolina's inflation-adjusted gasoline tax will fall by 0.2 cents per gallon -- a penny on every 5 gallons. The new tax will be 29.7 cents per gallon plus the 0.3 cent inspection fee, for a total 30 cents.It is going down slightly to reflect last winter's dip in retail gas prices.The surge that sent prices above $3 this spring probably will push the tax higher again in January -- but only if the General Assembly agrees to remove a cap that prevents the tax from rising above its current level, 30.2 cents.The House budget proposal would allow the cap to expire June 30. The Senate wants to make the cap permanent. The issue will be decided in budget negotiations between the two chambers.Motorists also pay a federal tax of 18.4 cents per gallon.
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