Seeking to soften the blow of higher gas prices on consumers, a handful of states have suspended their gas taxes, and several other states may soon follow. Gas prices, which had already been climbing during the pandemic, rose to new highs in recent weeks in part because the war in Ukraine led to more volatility in the energy market. The average cost of gas in the United States hit a record high on March 11 at $4.33 per gallon, according to AAA. Although that number has since declined to an average of $4.24 per gallon, it is still 18 percent higher than it was last month and 48 percent more than it was a year ago. Some states are using budget surpluses from federal pandemic aid and increased tax revenue to cover the cost of suspending gas taxes for the next several weeks or months. Others are also considering […]