Energy

What a federal gas tax holiday could mean for prices at the pump

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Fuel prices at a Chevron gas station in San Francisco June 9, 2022.

Bloomberg | Bloomberg | Getty Images

For months, drivers across the U.S. have faced eye-popping prices when they fill up their gas tanks.

Now, President Joe Biden is weighing a new remedy — a federal gas tax holiday.

A gallon of gas now costs an average of $4.97, according to AAA. That’s a slight improvement from earlier this month, when the national average crossed the $5 threshold for the first time. But prices are up from $4.59 a month ago and $3.07 a year ago.

However, in some states — such as Washington, Oregon and Nevada — average gas prices are more than $5.50 per gallon. In California, the average is currently…



Source cnbc.com

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