May 2, 2024
ATLANTA — Georgia Gov. Brian P. Kemp suspended the state's excise tax on gasoline and diesel, effective Wednesday through Oct. 13, due to the 40-year-high inflation and negative economic conditions affecting residents of the state. The suspension was part of a state of emergency delcared by the governor Tuesday.
Kemp said, “While high prices continue to hit family budgets, hardworking Georgians deserve real relief and that's why I signed an executive order today to deliver it directly to them at the pump."
The governor's statement cited an analysis from Moody's Analytics from August that shows Americans are spending $709 more per month than 2 years ago and $202 more per month than last year. According to AAA, the average cost of a gallon of regular gas in Georgia is currently $3.57, up from $3.24 a year ago.
Suspension of the excise tax will save Georgians 31.2 cents per gallon of gasoline and 35 cents per gallon of diesel fuel. When the gas tax was suspended from March through December of last year, 2022, Georgians saved roughly $1.7 billion at the pump.
Despite last year's gas tax suspension, the state recorded a budget surplus. The Georgia Department of Revenue reported earlier this year that the state generated a surplus of nearly $4.8 billion in the 2023 fiscal year.
Speaker Jon Burns supported Kemp's action. "I applaud Governor Kemp’s suspension of motor fuel taxes to keep our people and our economy moving," he said.
