Braun Declares New Energy Emergency, Extends Indiana Gas Tax Holiday

Indiana Governor Mike Braun has extended the state's gas tax holiday by declaring a new energy emergency. The decision is based on disruptions to global oil shipping caused by the ongoing war between Russia and Ukraine, as well as wildfires in the Canadian Oil Sands Region.

Braun first issued an energy emergency in April due to rising gas prices after the U.S. and Israel's attack on Iran led to repeated closures of the Strait of Hormuz, a major oil shipping port.

The governor will review and renew the emergency every 30 days for up to 120 days, with the current gas tax holiday set to run from August 7 through September 5.

Indiana is projected to miss out on over $610 million in revenue since April, including $50 million per month in lost gas usage tax revenue and $90 million per month in lost gas excise tax revenue.