Photo: Moment RF
Gas prices continue to be high as the Trump administration pushes toward peace in Iran and the full reopening of the Strait of Hormuz. But as it turns out, there is something Governor Abbott could do to bring your prices down right now.
Texas Agriculture Commissioner Sid Miller has called on Governor Abbott to suspend the state’s gasoline tax, which could lead to massive discounts at the pump for consumers. “Texas has a tax of 20 cents on gasoline per gallon and 20 cents per gallon on diesel,” he explained.
If that tax is suspended, that would be a nearly immediate discount of 20 cents—a massive win for Texans who’ve been pinched at the pump for weeks. “I don’t see any downside to it other than maybe a little lost revenue to the state,” Miller said.
He went on to point out that exported barrels of oil are also taxed, and the rise in oil exports from Texas could completely offset the cost of suspending the gas tax.
Miller says both Abbott and President Trump at the federal level could suspend the taxes with just the stroke of a pen. He’s sent requests to both of them to do so, but so far hasn’t heard back.