McClatchy: Would a gas tax break help drivers save that much money? Here’s what experts say

According to the American Petroleum Institute, the federal tax on gas is about 18 cents per gallon. National gas prices average about $4 per gallon as of March 11, according to AAA. “Even if Americans trust companies like Exxon and BP to pass on the full savings of the gas tax holiday to consumers, the difference would only be 18.4 cents per gallon,” Steve Wamhoff, director of federal tax policy, and Joe Hughes, a federal policy analyst, explained in the Institute on Taxation and Economic Policy. “The average driver would save less than $8 a month, according to the most recent statistics from the Federal Highway Administration,” they wrote.

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