The lower fuel costs should be felt within a few days
Atlanta, GA – Yesterday, Georgia Gov. Brian P. Kemp declared a state of emergency due to “the 40-year-high inflation and negative economic conditions felt by hardworking Georgians as a result of policies coming out of Washington, D.C.”
As part of this declaration, Kemp is temporarily suspending the state’s excise tax on motor and locomotive fuel to provide direct relief to families throughout the state. The executive order went into effect on Wednesday, Sept. 13 at 12 a.m. and will remain in effect until 11:59 p.m. on Oct. 12, 2023. Consumers should expect the suspension to begin impacting prices after several days. You can read Executive Order 09.12.23.01 here.
“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,” Kemp said in a press release. “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. 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.”
According to an analysis from Moody’s Analytics from August, Americans are spending $709 more per month than 2 years ago and $202 more per month than last year.
You should soon begin to see the lower prices at the gas pump. Suspension of the excise tax will save 31.2 cents per gallon of gasoline and 35 cents per gallon of diesel fuel. When the gas tax was suspended from March through December of last year, Georgians saved about $1.7 billion at the pump.
“I applaud Governor Kemp’s suspension of motor fuel taxes to keep our people and our economy moving despite Washington’s inaction on rising fuel prices,” Speaker Jon Burns said in the release. “Georgia’s success story is no accident – it is the result of conservative policies enacted to keep Georgia the nation’s best state for business.”
According to AAA, the average cost of a gallon of regular gas in Georgia is currently $3.57, which is up 33 cents from $3.24 a year ago.