ATLANTA — Some relief is on the way for Georgia drivers as gas prices continue to rise amid the ongoing conflict in the Middle East.
Gov. Brian Kemp will suspend the state’s gas tax for 60 days, marking the fourth time he has taken such action since taking office. The measure has already passed the House and received unanimous approval from the State Senate in a vote Thursday.
Kemp is expected to sign the legislation during a ceremony at the State Capitol Friday morning.
Georgia’s gas tax is about 33 cents per gallon for regular fuel and 37 cents for diesel. However, Georgia Tech energy economics professor Dr. Matthew Oliver says drivers should not expect prices to drop by the full amount.
“Because with any tax of this kind the consumers bear a portion of it, but also the sellers bear a portion of it,” Oliver said.
Oliver added, “While I don’t expect prices to come down by 33 cents, they will come down by most of that, but not fully 33 cents.”
The suspension will take effect immediately after the governor signs the legislation, though Oliver says it could take a few days before drivers see lower prices at the pump.
“I would expect that to sort of materialize in local gas prices pretty quickly,” Oliver said. “I think they could see some immediate short term relief.”
The move comes as the average price of gas in Georgia has increased by about one dollar per gallon since the start of the Middle East conflict.
With spring break approaching for many metro Atlanta schools, Kemp is taking steps to help alleviate the financial strain at the pump. However, the tax break is expected to impact state transportation funding.
“Basically that means the state is bearing this cost of high oil prices caused by the war,” Oliver said.
Estimates show the state could lose up to $400 million in revenue during the 60-day suspension.
WSB Radio’s Jonathan O’Brien contributed to this story.