Governor suspends excise taxes, Georgians to see lower gas prices
Published 10:08 am Tuesday, September 12, 2023
ATLANTA — In an executive order signed Sept. 12, Gov. Brian Kemp suspended the state’s excise tax on fuel to help provide financial relief to Georgians amid ongoing inflation.
Suspension of the excise tax will save Georgians 31.2 cents per gallon of gasoline and 35 cents per gallon of diesel fuel.
Kemp blamed the “40-year-high inflation and negative economic conditions” on the Biden Administration’s policies that “hamstring domestic energy production.”
“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,” Kemp said in a statement. “Working with partners in the General Assembly, we’ll continue to help Georgians weather the economic headwinds caused by this president, his administration, and their allies in Congress.”
The executive order goes into effect on Sept. 13 at midnight and will remain in effect until 11:59 p.m. on Oct. 12, 2023. It could take several days for the prices to be reflected at service stations.
According to the American Automobile Association, as of Sept. 12, the average gas price in Georgia was $3.57 per gallon for regular gas, below the national average of $3.83.
A year ago, AAA reports the Georgia average for regular gas was $3.24.
The gas tax, which helps fund transportation projects in the state, was also suspended last year from March through December, reportedly saving Georgians and estimated $1.7 billion.
Earlier this year, state officials voted to amend 2023 budget to replenish the loss of those revenues back into the Georgia Department of Transportation budget using some $6 billion in budget surplus.
“Georgia’s success story is no accident — it is the result of conservative policies enacted to keep Georgia the nation’s best state for business,” said Ga. House Speaker Jon Burns.
According to the state’s Transportation Funding Act of 2015, the Georgia Department of Revenue determines the excise tax based on a calculation of the average miles per gallon of all new vehicles registered in the state, and the annual percentage of increase or decrease in highway construction costs as measured by the Construction Price Index.