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Mar 15, 2022

Gas tax suspensions are on the table

Lawmakers on Capitol Hill and in states across the country are considering temporary suspensions of various gas taxes. The idea is to drive prices down at the pump, and it has support from Republicans and some Democrats. Plus, why California gas prices always seem to be the highest in the U.S. Also, what the falling price of crude oil means for the global economy. And, Russia’s reliance on foreign technology is revealed after sanctions cut the country off from parts, repair and know-how sourced from around the world.

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California has always been among the priciest places for a gallon of gas in the U.S. Among the reasons are the state's higher taxes and environmental standards.
Frederic J. Brown/AFP via Getty Images

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Segments From This Episode

How much will suspending gas taxes actually save for people at the pump?
Marketplace’s Nancy Marshall-Genzer reports.
Why are California’s gas prices so high?
by Samantha Fields
Frederic J. Brown/AFP via Getty Images
There are several reasons. For one, the state is highly dependent on foreign crude oil.
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Markets are now expecting some sort of stability in Ukraine. Just look at the falling price of crude oil.
What was $130 a barrel early last week is $96 now, down another 6.5% or so. We hear more from David Kelly, chief global strategist at JP Morgan Funds. Also, a look at what the Federal Reserve will do about raising interest rates — tomorrow and throughout the rest of the year.
Russia wakes up to big technological weaknesses
by Justin Ho
Josep Lago/AFP via Getty Images
Russia’s economy relies on imported tech, like aircraft parts and semiconductors. That leaves it vulnerable as sanctions multiply.
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