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Friday, January 27, 2023

Stimulus Check Update- Payment For Gas Coming In Soon

With California reaching new levels in gas prices, Governor Gavin Newsom has proposed a stimulus check payment of $400 to the residents with a single registered vehicle. Interestingly, drivers with a couple of registered vehicles will also be able to claim an additional check of $400, which makes the maximum payment on this stimulus at $800.

While the legislation hasn’t yet passed in the legislature, the governor has been working round the clock in order to get the state legislature to pass this bill. Now, the gas price doesn’t seem to be slowing down soon, and analysts at JP Morgan have warned that the national average could easily surpass around $6 by August. 

California Could Issue Stimulus Check Payment

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This definitely does raise a few questions- will a stimulus check payment of $400 have any additional impact on the lives of the Americans that this rising inflation has constantly hurt. Also, how long will such a stimulus payment last for an average driver? For Americans driving heavy vehicles, a car tank can hold up to 15 gallons of gas- even more at times. The average tank size for gas for most Americans stood at 12 gallons as of 2020. 

Recently, the average cost of gas for every gallon has risen up to $4.71. This does imply that the average American will now be spending around $56.52 to fill up their large vehicles. Drivers with large cars that can hold up to 18 gallons will have to pay around $84.78. At these prices, a driver receiving a stimulus check of $400 will definitely be able to fill up their car between four to seven times using the payment. 

The stimulus check payment will be of more use- considering around 82% of the drivers in the country fill their tanks up less than twice every month. 

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