University of New Haven professor Brian Marks wanted to track the impact of the temporary elimination of the gas tax on consumers and sellers, so he created a project with his students to track the gas price trend in the state.
Business and economic students at the university have the chance to take what they're learning in class and apply it to the real world by tracking the rates of gas prices following the announcement of the suspension.
The project started last week when the legislation passed. The students began collecting data and assessing statements about how the excise gas tax would impact consumers and sellers.
The students went to gas stations on March 31 and April 1. What they found was was a wide range of price adjustments from a penny or two to as much as 30 cents a gallon, according to Marks.
The students made a hypothesis that the gas tax holiday would garner a decline but not to the extent of the full 25 cents and turns out the students were right, according to Marks.
Marks is hoping that his students are able to learn from the experience.
"The students are understanding how the interaction of politics and economics come into play and how their inextricably intertwined," said Marks. "I want students to know that right from the start and to not take things on face value and if they are able to learn that concept, we have hope for the future with this next generation."
Marks tells NBC Connecticut that he, along with his students, hope to track the gas price trend until the end of the gas tax holiday and semester.
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