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How much would a national gas tax holiday really save drivers? Experts weigh in.

Drivers across Hampton Roads say they want to see change at the pump, but economic experts say that's not happening anytime soon.

NORFOLK, Va. — Some drivers filling up their tank say they feel defeated with these consistently high gas prices. 

"I came on an empty tank of gas," said Beth Grimes, who rolled next to the pump with her gas tank on "E." "I have no money for gas." 

Brittnae Holley, also pumping gas in Norfolk Wednesday afternoon, said she's also had enough.

"The gas prices are really high. I just wish it was back to normal," she said.

President Joe Biden wants to help people by implementing a gas tax holiday through September.

The gas tax holiday, similar to what Virginia Gov. Glenn Youngkin has been trying to implement on the state level, would suspend the gas tax for three months.

That suspension would cut regular gas prices by about 18 cents per gallon and diesel fuel by about 25 cents per gallon on the national level.

Economic experts, like Tim Komarek with Old Dominion University, said this tax relief would only pack another punch to struggling drivers.

"The driver, at the end of the day, is really unlikely to be a winner in this case," Komarek said.

If federal lawmakers approve Biden's proposal, it's likely more people will be willing to fill up their tanks. However, Komarek said a rise in demand would make it more difficult for oil companies to keep up.

"They can't increase production, even if they wanted to with the higher prices," Komarek said. "The federal government is talking about 18 cents per gallon. Most economists would think that that's going to yield only a couple of cents that go to drivers."

He says even a one-time rebate recommended by some Virginia lawmakers may help fill up your tank, but it still would only make a small difference on a much bigger problem.

Brian Baugus with Regent University said he agrees that everyday drivers won't really benefit much from a tax suspension like this. Though, he said truck drivers may slightly benefit from the lowered diesel costs (25 cents a gallon).

"That could be substantial for that industry... and shipping and transportation is a big industry," Baugus said. 

Komarek and Baugas said at the end of the day, drivers would likely only save a few cents per gallon, which over a three-month period would add up to less than $100.

Earlier this year, Youngkin proposed a gas tax holiday for Virginian drivers. State lawmakers voted against the legislation for a third time last week.

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