Maryland residents will get some help with pain at the pump. Governor Larry Hogan has signed a 30-day gas tax holiday bill, temporarily dropping gas prices in the state.
It’s a month long suspension of the state’s 36-cent fuel tax. Governor Hogan and the general assembly signed it into law on Friday (March 18th). “This bi-partisan action will provide relief for pain at the pump,” Hogan said during the announcing press conference. Maryland has become the first state to enact such legislation as others are still pondering the idea. California has already rejected it. The bill is not a long term solution to the global gas price-hike but the idea is to buy some time for the prices to fall around the world.
Hopefully global pricing will be better when the legislation expires in 30 days. “This, of course, is not going to be a cure-all,” the Governor continued. “Market instability will continue to lead the fluctuations in prices but we will continue to use every tool at our disposal to provide immediate relief for Marylanders.”
How fast will it happen?
Some may have seen some changes at the pump already but the administration warns that it may not be immediate for others. Retailers still have the option to control the prices. “I haven’t talked to one that wasn’t going to [cut prices],” said Kirk McCauley, director of member and government relations for the Washington, Maryland, Delaware Service Station and Automotive Repair Association.
Experts expect the 36-cent price drop to be honored at majority of the 2,300 Maryland gas stations.