As of July 31, fiscal 2014 tax revenue from sales of CNG and LNG for vehicle fuel totaled $2,178,199, according to the state Comptroller’s office. This figure doubles FY2014 estimations (220 percent), as state forecasters had projected natural gas motor fuel tax revenue of $992,000, equal to sales of 6.6 million gallon equivalents.
Texas Railroad Commissioner David Porter, who launched his Natural Gas Initiative to increase the use of natural gas motor fuel in Texas last October, hailed the Comptroller’s report.
“These collections are more than double the estimated amount,” the commissioner said. “At 15 cents per gallon equivalent, $2,178,199 of motor fuel tax equals sales of 14,521,326 gallon equivalents of natural gas.” A “gallon equivalent” is the amount of CNG or LNG with the same energy content as a gallon of gasoline or diesel fuel.
“Natural gas vehicles are becoming mainstream faster than expected,” Porter added. “And there’s plenty of room for growth. These excellent sales figures represent only a fraction of potential sales, as more and more fleet operators take advantage of the cost savings, lower emissions and energy-security benefits of Texas natural gas.”
Source: Railroad Commission of Texas