By admin 
RALEIGH, N.C. (WNCN) — The national average for a gallon of regular gas is now $4.50, according to AAA.
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As the war in Iran continues to cause stubbornly high prices, the Trump administration is considering suspending the federal gas tax to bring savings at the pump.
“I’m all for it,” Raleigh resident Kim Blasing said. “I think it would help with the way the economy and everything has been lately.”
The move, which would require an act of Congress, would save drivers around 18 cents per gallon. It would be about $2.94 in savings to fill a 16-gallon tank with regular, around $12 in savings each month if a person fills up once a week.
“Would be good to suspend anything to bring them down,” one driver said.
Typically, 18% of what people spend on gas goes towards taxes, but that number has shrunk in recent weeks as the price of crude has skyrocketed with the situation on the Strait of Hormuz. Another 41 cents is for state taxes.
While suspending the tax would save us some money at the pump, it would also cut into federal revenue. More than $23 billion is generated each year through the tax, going towards federal highway and public transit programs.
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“It would be helpful, but I don’t think it would satisfy people’s concerns about the high levels of prices,” local economist Michael Walden said.
“You’re giving up something there at both the federal level and the state level,” said Walden.
As prices remain high, Walden says it’s important to shop around to find the best deals.
“You always want to shop for gas off-peak,” he said. “You want to go when people are not normally going. I would say in the middle of the day, not morning and afternoon. Look for gas stations that are sort of off the major highways, off the major paths that people take to their work especially.”
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