GREENSBORO, N.C. — It's no secret gas prices have gotten out of control. The latest AAA report pegged the national average at $4.25 and North Carolina's average at about $4.13.
The sharp increases in prices have caused some people to get desperate. Law enforcement agencies warned thieves are drilling into vehicle fuel tanks to steal gas.
The damage to your car can get costly. A new gas tank can cost up to $1,400.
Lawmakers nationwide have called for a suspension of the federal gas tax to give consumers some relief at the pump. The tax currently adds 18.4 cents to your bill.
Congress set the federal gas tax rate in 1993. Gas cost $1.11 back then, according to the Department of Energy. The rate hasn't increased since then.
The majority of that money goes to the Highway Trust Fund, according to Investopedia. That pot of money helps fix our country's roads.
Speaker of the House Nancy Pelosi warned there's no guarantee that suspending the gas tax would help consumers. Oil companies could just pocket the extra money rather than pass it along.
The White House started looking for other countries to get oil from after banning all Russian oil imports Tuesday.
The Biden Administration opened communication with Venezuela, a country the U.S. hasn't worked with since 2019. Venezuela is one of the world's top oil producers and an OPEC country.
However, experts said even if we got oil from there and increased domestic oil production, it still likely would not be enough to cover the supply lost from the Russian ban.
Experts have said that if everyone cut down on their driving, it'd go a long way toward helping drive prices back down. Most people can't afford to just drive less. We looked at three realistic ways you can cut down.
- Do all of your grocery store shopping in one place. Taking extra trips is an unnecessary gas waster.
- Set up a carpool with coworkers that live close. It helps you all save money at the pump and can drive down overall gas demand.
- Invest in a coffee maker. Rather than take the trip to a coffee shop on the way to work, try making your own. It's one less trip.