American consumers are grappling with the worst inflation in four decade, and more economic pain could be coming.
Signage displaying fuel prices at a Shell gas station in San Francisco March 7, 2022. The average price of gasoline in the U.S. jumped above $4 a gallon for the first time since 2008.
Surging prices — which come as consumers confront the highest inflation in 40 years — have prompted lawmakers across the country to look for ways to provide some relief for motorists. Georgia and Maryland became the first states to suspend their gasoline taxes last week, and lawmakers in Illinois, Massachusetts, Maine, Michigan, New York, Tennessee and Virginia are considering similar proposals. There is also a push in Congress to pause the federal gasoline tax.
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