Excise taxes on gasoline and special fuels; average wholesale price of gasoline and annual survey value

Section 1. Definitions.

(1) "Annual survey value" has the same meaning as provided under KRS 138.210(3)

(2) "Average wholesale price" has the same meaning as provided under KRS 138.210(4).

(3) "Dealer" has the same meaning as provided under KRS 138.210(6).

(4) "Gasoline" has the same meaning as provided under KRS 138.210(11).

(5) "Received" has the same meaning as provided under KRS 138.210(15).

(6) "Special fuels" has the same meaning as provided under KRS 138.210(18).

Section 2. Average Wholesale Price of Gasoline and Annual Survey Value. Effective July 1, 2022, the average wholesale price of gasoline and the annual survey value under KRS 138.228 shall be two dollars and seventeen and seven-tenths cents ($2.177) per gallon, which is the average wholesale price of gasoline and the annual survey value for fiscal year 2021-2022.

Section 3. Excise Taxes on Gasoline. Effective July 1, 2022, the excise tax imposed under KRS 138.220 on gasoline, including liquified petroleum, received in this State shall be nineteen and six-tenths cents ($0.196) per gallon, which is the current excise tax on gasoline, including liquified petroleum, for fiscal year 2021-2022. When combined with the five cents ($0.05) per gallon supplemental highway user motor fuel tax and the one point four cents ($0.014) per gallon petroleum environmental assurance fee, the total state tax on gasoline is twenty-six cents ($0.26) per gallon.

Section 4. Excise Taxes on Diesel Fuel and Other Special Fuel. Effective July 1, 2022, the excise tax imposed under KRS 138.220 on special fuel received in this State shall be nineteen and six-tenths cents ($0.196) per gallon, which is the current excise tax on special fuel for fiscal year 2021-2022. When combined with the two cents ($0.02) per gallon supplemental highway user motor fuel tax and the one point four cents ($0.014) per gallon petroleum environmental assurance fee, the total state tax on special fuel is twenty-three cents ($0.23) per gallon.

Section 5. Relief from Penalties. No dealer shall be found in violation of the reporting requirements under KRS 138.240 to 138.260, or subject to the civil penalties imposed under KRS 138.290, for computing and reporting the gasoline and special fuel tax and supplemental highway user motor fuel tax imposed under KRS 138.220 in accordance with this regulation.