Gas taxes in Illinois are set to increase from $0.387 per gallon to $0.392 per gallon on July 1.
The state’s Motor Fuel Tax first increased from $0.19 per gallon of gasoline to $0.38 cents per gallon and from $0.215 to $0.455 per gallon of diesel fuel on July 1, 2019. At that time, lawmakers voted in an annual tax increase to align with inflation.
Last year’s increase was seven-tenths of a penny per gallon.
New revenues from the tax are deposited into the state’s new Transportation Renewal Fund (TRF) and a portion of the 19-cent increase in gasoline MFT is shared with units of local governments for road construction.
From December 1, 2019 through November 30, 2020, MFT gross collection was $2,291,891,837.15, 36-percent higher than the previous year December 1, 2018 through November 30, 2019 when the gross collection was $1,685,162,241.14.
For FY 2020, the Village of Mahomet received $317,421.87 from MFT and TRF combined.
