For several weeks now, the average national gas price has been well over $4 a gallon. This price surge has been straining the pocketbooks of ordinary Americans who are trying to endure a year-over-year inflation rate of nearly 8 percent.

In New Mexico, where gas prices are currently at $4.17 per gallon, the situation is no different. But the one major difference is that the state has a surplus of at least $1 billion due to the oil and gas industry. According to KOAT in Albuquerque, some of those funds could be headed out to state residents.

In fact, lawmakers are expected to hold a special session beginning on April 5 to go over such a plan. “The Legislature and the governor are considering giving rebates to New Mexicans to offset the high cost of gasoline,” KOAT political analyst Brian Sanderoff noted. “One bill that's being considered would give individuals a $350 rebate and married households $700 to help offset the high cost of gasoline,” he continued.

The news outlet did note that lawmakers have stated that the final amounts could fluctuate. “I would support this ... [if] it would go to every New Mexican,” Rep. Jim Townsend told KOAT.

More States Offering Financial Support

In recent weeks, other states have been coming up with their own plans—sending out tax rebates or suspending gas taxes—to help with high gas prices. Georgia, Maryland, Illinois, Massachusetts, Maine, and Michigan are just some of the states pursuing initiatives to reduce the impact of rising gas prices.

For example, California Gov. Gavin Newsom has proposed issuing a $400 tax refund in the form of a debit card to every vehicle owner in the state. “That direct relief will address the issue that we all are struggling to address, and that’s the issue of gas prices,” Newsom said in a Twitter video. Per the governor’s office, the refunds would include $400 for each registered vehicle.

Per CBS News, in Maine, Gov. Janet Mills is aiming to disburse checks of $850 to each state resident. The rebate “will help Maine people grapple with these increased costs by putting money directly back into their pockets,” Mills said.

Meanwhile, in Minnesota, Gov. Tim Walz is pressing state lawmakers to pass bigger rebate checks instead of a $0.28 per gallon gas tax holiday. The governor’s proposal calls for direct payments of $500 for single tax filers who earn less than $164,400 and $1,000 for couples who earn less than $273,470.

Ethen Kim Lieser is a Washington state-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.

Image: Reuters.