This is How Much You Pay in Taxes Per Gallon of Fuel in Colorado
Gas prices continue to climb nationwide as fuel prices reach a national average of $4.59 per gallon according to AAA. While the prices at the pumps in Colorado are hurting everyone's wallet, Colorado's average price for gas is still below the national average at $4.14.
AAA shows the overall average for regular unleaded fuel one short year ago was $3.10 per gallon. Colorado drivers are now paying $1.14 more per gallon than they were last year.
How Much Are You Paying in Taxes for Gas in Colorado?
When it comes to the taxation of fuel, you will be taxed at two levels. Federal and State. The federal tax for fuel per gallon is 18.4 cents for gasoline and 24.4 cents for diesel according to the U.S. Energy Information Administration.
In the state of Colorado, you will also see additional state taxes depending on the type of fuel you purchase. Gasoline in Colorado is taxed at 22 cents per gallon and diesel is taxed at 20.5 cents per gallon.
Colorado is in the top 10 states for the lowest gas tax prices per gallon in the country ranking at 41st. California has the highest taxes at 63 cents per gallon and Alaska ranks the lowest at 14 cents per gallon.
The State of Colorado's revenue from motor fuels during the fiscal year of 2019-2020 brought in a total of $624.5 million. The highest tax revenue over the past two decades for the State of Colorado was brought in 2017-2018 and 2018-2019. Both fiscal years tied at $654.9 million.
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