President Biden on Monday said he’s exploring a federal gas tax holiday with prices around $5 a gallon. The federal gas tax is 18 cents a gallon, so a gas tax holiday could save the average driver about $3 each fill up.
Drivers paying more than ever before at the pump could possibly see gas prices dip a bit, as President Biden on Monday said he’s exploring a federal gas tax holiday.
“Yes, I’m considering it,” Biden told reporters about a potential gas tax holiday. “I hope to have a decision based on the data, I’m looking for by the end the week.”
The federal gas tax is 18 cents a gallon, so a gas tax holiday could save the average driver about $3 each fill up. The average price for regular is now $5 per gallon in Massachusetts, resulting in the average motorist paying more than $70 to fill up their tanks.
“It’s not going to be a huge relief for most people,” said Michael Klein, professor of international economics at the Fletcher School at Tufts University.
