Summer Tax Cut in Michigan Could Drop Gas Prices by 50 Cents
It's not to the point of happening quite yet, but if approved by the Senate Committee, Michigan gas prices would drop by at least 50 cents.
Every little bit helps when it comes to buying gas these days. When they're talking about gas prices reaching $5 a gallon or eventually $6 a gallon, any kind of a decrease is greatly appreciated.
According to mlive.com:
Senators on Thursday, May 26, advanced a package of bills that would remove Michigan’s 27-cent-per-gallon fuel tax from June 15 through Sept. 15, as well as suspend the state’s 6% general sales tax on gasoline purchases.
Currently, the average cost of gasoline in Michigan is around $4.50 per gallon if not higher. And that's the price at the pump that all Michiganders will be paying during the 3-day Memorial Day weekend.
Think about all the vehicles being filled up for the holiday weekend and what about the big RV's and boats as well. These high gas prices are taking a big chuck of cash out of everyone's pocket book.
Mlive.com also tells us:
With gas and sales taxes suspended, prices should drop “about 50 cents per gallon,” said state Sen. Tom Barrett, R-Charlotte. At current prices, a gallon of regular gasoline, he said, should fall to around $4, and a gallon of diesel – currently averaging $5.25 in Michigan according to AAA – will fall well under $5.
Don't get me wrong here, but is 50 cents really going to make that much of a difference? What we really need to see is gas prices going back down to where they were when we could tolerate the prices.
It's always good to budget your cash flow, but it doesn't help when gas prices are going up, grocery prices are going up, and so much more.
We are all very frustrated with higher gas prices, but if we can get these prices lowered by 50 cents, we'll take it at least for now.