From the Courant.com:

Do you think that gasoline and diesel prices have already gone through the roof? Well, hold on to your fuel caps.

That’s because the state’s gross receipts tax on both gasoline and diesel will be going up July 1, and those prices are based on the wholesale price of fuel.

As a result, the state tax on diesel fuel in Connecticut will rise 7.7 cents per gallon, the tax department announced Monday.

And gasoline prices will jump three to four cents per gallon, depending on the wholesale price on that day. The increase is in addition to the 25-cent-per-gallon state tax on gasoline.

For diesel fuel, the tax department is required by law to calculate the tax that is based on the fuel’s average wholesale price for the period April 1 to March 31 each year. Since the average wholesale price during that period over the past year was $2.488 per gallon, the new tax rate per gallon will be 44.7 cents — up 7.7 cents from the current 37 cents per gallon on diesel. That tax rate will remain at that level for one year and then will be adjusted up or down at that point.

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