Missouri residents can expect a hike in the price at the pump as a gas tax takes effect on Friday.
Governor Mike Parson signed off on the gas tax in late July that is going to generate nearly $500 million every year for the state’s roads and bridges.
The signed measure will gradually raise the state’s 17 cents per gallon gas tax by 12.5 cents over the next five years.
Parson calls this a big win for the state, and it’s future.
The last time Missouri experience a rise in gas prices was in 1996 when state legislators passed a 6 cent per gallon tax.
IN 2018, another tax hit the ballot to raise it by 10%, but it ultimately failed.
The new gas tax will also increase the state’s electric vehicle decal fee by 20% annually for five years, and will establish the Electric Vehicle Task Force in the Department of Revenue.
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