Georgia Suspends Gasoline And Diesel Tax Amid Inflation Pain

The Governor of Georgia has ordered the suspension of state taxes on gasoline and diesel as part of measures to relieve economic pain caused by soaring inflation.

The suspension will be in force from September 13 to October 12.

Governor Brian Kemp declared a state of emergency in the state this week, saying "From runaway federal spending to policies that hamstring domestic energy production, all Bidenomics has done is take more money out of the pockets of the middle class.”

“While high prices continue to hit family budgets, hardworking Georgians deserve real relief and that's why I signed an executive order today to deliver it directly to them at the pump,” Gov. Kemp said.

“Working with partners in the General Assembly, we'll continue to help Georgians weather the economic headwinds caused by this president, his administration, and their allies in Congress."

In a press release, the governor’s office cited data from Moody’s Analytics that showed Americans were spending over $700 per month more than they used to spend two years ago and over $200 per month more than they used to spend last year.

The suspension of fuel taxes would save Georgians over $0.30 per gallon for both gasoline and diesel.

This is not the first time fuel taxes have been suspended in the state. Last year, the Governor suspended them for most of the year, from March to December, due to the price jump in crude oil following the Russian invasion of Ukraine.

The move, according to the press release of the governor’s office, saved drivers some $1.7 billion.

Core inflation in Georgia stood at 4.7% on an annual basis in July and consumer prices were up by 3.2%, leaving many Georgians struggling.

The average price for gasoline across the U.S. stood at $3.836 per gallon on September 12. The average for Georgia was $3.570 per gallon, according to AAA data.

By Charles Kennedy for Oilprice.com

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