All articles tagged with #federal gas tax
Energy Secretary Chris Wright declined to forecast gas prices amid rising fuel costs and ongoing Iran-related tensions, saying prices will remain high for now even though the U.S. is a leading oil and natural gas producer; he suggested prices could ease once the Strait of Hormuz traffic resumes and indicated support for considering measures like a federal gas tax to help lower pump prices.
Gas prices are rising across the Bay Area, with Marin County posting the nation’s highest average at about $6.05 per gallon, followed closely by San Francisco. Lawmakers are weighing a temporary suspension of the federal gas tax (roughly 18 cents per gallon) to provide relief. Prices have jumped about $1.20 in a month amid geopolitical tensions related to Iran, impacting budgets and prompting some residents to drive less, though current Bay Area prices remain below the 2022 peak. California remains the most expensive state for gasoline.