As the price of gas skyrockets by almost 2 dollars per gallon in America, President Joe Biden called on Congress and state governments to provide direct relief to American consumers, asking legislatures to suspend the federal gas tax for three months, through September.
He called on states to take similar action to provide relief, through suspending gas taxes at the state level.
Biden also took action to boost the supply of oil and gas. The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Wednesday for the eighth consecutive day and ninth time in 10 days, dropping eight-tenths of a cent to $6.395. The Orange County average price also decreased for the eighth consecutive day and ninth time in 10 days, dropping nine-tenths of a cent to $6.325. It has decreased 8.5 cents over the past 10 days, including 1.4 cents Tuesday. The run of dropping prices follows an 17-day streak of increases totaling 35.1 cents.
The dropping pump prices locally are also the result of a sharp drop to Los Angeles wholesale gasoline prices and a slight downturn in consumer demand reported by the U.S. Energy Information Administration, which is likely due to record high prices, said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
The national average price dropped for the eighth consecutive day following an 18-day streak of increases, decreasing 1.3 cents to $4.955. It has dropped 6.1 cents over the past eight days, including 1.3 cents Tuesday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Biden calls for 3-month federal gas tax holidayJUST IN: President Biden will call on Congress to suspend the federal gas tax for three months and ask states to suspend their own gas taxes or provide commensurate relief to consumers.
Read more »
President Biden to Propose 3-Month Suspension of Federal Gas TaxWhen the tax is just $0.18 per gallon, how much will consumers really notice? And what's to stop oil companies from raising prices again?
Read more »
President Biden to call for 3-month suspension of gas and diesel taxesAt issue is the 18.4 cents-a-gallon federal tax on gas & the 24.4 cents-a-gallon federal tax on diesel fuel. If the gas savings were fully passed along to consumers, people would save roughly 3.6% at the pump. U.S. gas prices now average about $5 a gallon.
Read more »
President Biden to urge 3-month halt to federal gas taxA federal gas tax holiday could also spur a number of states to relax their taxes. Biden is expected to make the announcement Wednesday afternoon.
Read more »
President Biden calls on Congress to suspend the federal gas tax for 90 daysWith the national average for a gallon of gas hovering around $5, President Biden has called for a temporary suspension of the federal gas tax.
Read more »