How to Calculate Gas Prices in New Jersey

by David Ferris
Gas prices are calculated per gallon.

Gas prices are calculated per gallon.

George Doyle/Stockbyte/Getty Images

Gas powers not just motor vehicles, but our entire economy. The U.S. is dependent on gas to literally keep us moving. Therefore, the price of gas has a major impact on the public. Even non-drivers are affected by gas prices, since an increase in transportation costs across the board can result in price increases that impact all consumers. In New Jersey, you can perform a simple calculation to figure out the price of gas.

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Step 1

Determine the gas price set by looking at the listed price on the pump itself or the gas station's marquee or sign board. This price will vary between individual gas stations.

Step 2

Add 10.5 cents per gallon in excise taxes.

Step 3

Add four cents per gallon in "petroleum products gross receipts" tax.

Step 4

Combine the total for the price per gallon at the pump.

Photo Credits

  • George Doyle/Stockbyte/Getty Images