W.Va. Road Fund Slowly Rebounding From High Gas Prices

By: Associated Press
By: Associated Press

Charleston, W.Va. (AP) -- The drop in gas prices is slowly translating into improved tax revenues for West Virginia roads and highways.

The state road fund collected $23.8 million last month, or $11.3 million less than expected. But the fund needed just $65,000 to offset shortfalls from motor fuel taxes.

The legislature created a special account earlier this year to help the fund deal with a decline in revenue blamed on higher gas prices.

Before November, the fund had drawn down $12.6 million of the $20 million in that account allotted for 2008. But officials now expect to end the calendar year without depleting that allotment. That extra money will be available for 2009.

Lawmakers have also frozen a scheduled increase to a state gas tax that's expected to save motorists $52 million in 2009 -- but at the expense of the state road fund.

(Copyright 2008 by the Associated Press. All rights reserved.)

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