I would argue that even though it saves the motorists a puny amount of money, it shows some goodwill from the government toward some measure of relief from sky-high gas prices.
I would go further and suggest that the government think out of the box and offer significant compensation to buyers of all-electric vehicles in order to stimulate the demise of gas internal combustion engines. The sooner that happens the sooner oil companies will reduce prices due to lack of demand. I think we should also consider building better, safer nuclear facilities to tie into our electric grid networks. The technology exists to utilize renewable energy in lieu of fossil fuels that cause global warming disasters to our planet. We lack the urgency to hasten the transition.