Indiana has become the latest state to suspend its 7% gasoline tax as Gov. Mike Braun (R-IN) seeks relief for Hoosiers facing rising fuel prices tied to the conflict in Iran.
Braun’s move mirrors a similar effort down south, as the Georgia Gov. Brian Kemp (R-GA) signed a state House bill last month that implemented a 60-day halt on the state’s gas tax.
“I am declaring a gas tax holiday to give Hoosiers relief from the pain at the pump from high gas prices,” Braun announced. “Affordability is my top priority.”
IRAN TO CHARGE FEES AND COORDINATE SAFE PASSAGE THROUGH STRAIT OF HORMUZ AMID CEASEFIRE
Indiana’s gas tax relief slightly differs from the timeline in the Peach State, as it sets a shorter 30-day deadline for the state’s fuel tax suspension, but with the caveat that the emergency order could be extended if gas prices remain high.
Braun also said Indiana officials will be “patrolling the pumps” by monitoring prices to ensure the emergency declaration is implemented at the pump and asked Attorney General Todd Rokita to enforce protections from price gouging by retailers.
AAA reported the average price of gas in Indiana on Thursday was just over $4 per gallon, a dollar less than the state’s record $5.24 per gallon in 2022.
Utah also moved to provide gas tax relief to its residents, prior to the launch of U.S. Military operations in Iran, by cutting the state’s gas tax by 6 cents per gallon. Gov. Spencer Cox (R-UT) paired the initiative with a plan to expand pipelines and storage opportunities, allowing refineries to increase seasonal supply and support elevated demand.
Gas prices have been on the rise in the wake of the war in Iran, which closed the Strait of Hormuz in retaliation for U.S. and Israeli strikes. The strait is a vital waterway through which 20% of the world’s oil passes.
NO OIL TANKERS PASSED THROUGH STRAIT OF HORMUZ ON FIRST DAY OF CEASEFIRE
Iran and the U.S. reached a two-week ceasefire agreement on Tuesday, but no oil tankers passed through the strait on the first day of the ceasefire. Four other cargo ships were able to make safe passage, but Iran “fully closed” the waterway again after Israel launched airstrikes on Lebanon.
The strait’s closure has been one of the highest political costs of the war, as it raised gas and oil prices for the U.S. and other countries, such as the United Kingdom, which is facing a severe fuel crisis.
