Raises the minimum fee per barrel of petroleum products or crude oil from five cents ($0.05) to twelve cents ($0.12) per barrel as part of the uniform oil spill response and prevention fee.

Plain-English Summary

This bill would increase a fee that oil companies and petroleum distributors pay on every barrel of oil or petroleum products that moves through Rhode Island. Currently, the fee is set at a minimum of 5 cents per barrel. This bill would raise that minimum to 12 cents per barrel — more than doubling it. This fee is part of Rhode Island's existing "uniform oil spill response and prevention" program, which helps fund the state's ability to prepare for and respond to oil spills.

The money collected through this fee goes toward protecting Rhode Island's environment and coastline in the event of an oil spill — covering things like cleanup efforts, emergency response, and prevention measures. By raising the fee, the state would collect more revenue dedicated to these purposes. The bill is filed under Rhode Island's broader 2021 Act on Climate, suggesting it is part of a larger set of efforts to address environmental protection and climate-related concerns.

The fee is paid by petroleum businesses operating in Rhode Island, not directly by individual consumers. However, it is possible that some or all of the increased cost could be passed along to consumers in the form of slightly higher prices for gasoline, heating oil, or other petroleum products. The bill has been introduced and referred to the Senate Finance Committee, where lawmakers will review its potential costs and benefits before deciding whether to advance it further.