Rutgers economist James Hughes said even if President Joe Biden is able to convince Congress to freeze the 18.4 cent a gallon federal gas tax for the next few months and Gov. Phil Murphy agrees to suspend the state gas tax (an idea he has rejected so far) “that would be a 10% reduction in price. I don’t think that’s a game-changer by any means.”
He said even in the best-case scenario, “it’s not going to be a major impact on people’s lives. I don’t think anybody is going to be happy.”