The suspension of the state’s gas tax has been extended through June 2. Governor Brian Kemp signed an extension of the suspension last Friday. The Georgia General Assembly passed and Gov. Kemp signed the original 60-day suspension March 20. The 60-day suspension of the state excise tax saves drivers just over 33 cents a gallon for gasoline and 37 cents a gallon for diesel. The U.S. conflict with Iran has continued to drive up oil prices.
The rise in gas prices has fueled concern that increases could ripple through the economy, driving up the price of fertilizer and food. “Global markets remain unstable and are subjecting Georgians to unpredictable price shocks on basic goods and services,” Kemp wrote in his executive order. It noted that futures on Brent crude, a global benchmark for oil prices, had spiked 3 percent for the day. The order prohibits price gouging.
Diesel factors into the cost of groceries and any other product that must be hauled. “As Georgia families prepare for the Memorial Day travel weekend, they should not feel blindsided by prices at the gas pump,” Kemp said in a statement. Kemp’s office said AAA predicts 39.1 million Americans will travel by car this Memorial Day weekend, topping last year’s record. The release said the average cost of a gallon of regular gas in Georgia is $4.02, half a dollar less than the national average. It said Georgia is one of only two states with a motor fuel tax suspension.
Capitol Beat News Service contributed to this report.
