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Fuel nonetheless excessive in Austin as customers gear up for summer season journey

As vacationers put together to hit the highway for his or her summer season trip, fuel costs are nonetheless sky-high and President Joe Biden is proposing a brief suspension of federal fuel taxes.

Economists disagree about whether or not fuel tax breaks actually do a lot for the typical American. However one factor is definite – customers who don’t have any selection however to drive are in ache.

House owners of the best-selling automobile within the US, the Ford 150 pickup truck, at the moment are paying $157 extra per thirty days to refill at right now’s $5 per gallon, in comparison with 2021 when costs averaged $2.20 per gallon , in response to a brand new report from the Federal Reserve Financial institution of Dallas.

“If costs rise greater, anticipate customers to reply by reducing gas consumption and general spending sooner quite than later,” stated Garrett Golding, senior economist on the Dallas Fed.

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