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Sen. Rand Paul hopeful that gas prices will begin to fall if US, Iran peace deal is signed

Sen. Paul Talks Iran, Gas Prices
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LOUISVILLE, Ky. (LEX News) — Sen. Rand Paul stopped by UPS headquarters in Louisville on Monday, and according to him, one of the conversations he had with leaders is about fuel prices.

KENTUCKY POLITICS: Sen. Rand Paul said he knows gas prices are high, but he's hopeful that the peace deal between the US and Iran set to be signed on Friday goes through so that prices can start to fall.

"I think the sooner the war ends, the better," Paul said.

According to Paul, the only way to get fuel prices back down is to stop the war and open the Straight of Hormuz, that way oil shipments can actually make it out.

Paul said that even if the agreement is signed, it'll still likely take a few months for gas prices to come down.

While prices have been high, some state leaders have taken action to provide relief to families. Gov. Andy Beshear temporarily cut the gas tax, while President Donald Trump encouraged Congress to also cut the federal gas tax.

In total, those cuts would save Kentuckians about 28 cents a gallon.

Paul disagrees with the move, and said it can't be done without impacting road improvements.

"Everybody hates taxes, I don't like high taxes," he said. "If you get rid of them, you'd probably have to suspend road repairs and road production. I don't see anybody arguing, 'Well, let's just stop repairing the roads and let's stop building roads for a while.'"

Paul said that instead of focusing on temporary measures, the United States need to address the root of the problem by ending the war with Iran.