National average for gas prices has risen by well over a dollar per gallon since late February
Donald Trump pledged to suspend the US federal gas tax in a bid to reduce pressure on Americans after the US-Israel war on Iran sparked a sharp rise in fuel prices.
The US president told reporters on Monday that his administration would look to pause the tax “till it’s appropriate”, as drivers count the cost of the surge in oil prices in the two months since US and Israel forces attacked Iran.
The federal gas tax – 18.4 cents per gallon for gasoline, and 24.4 cents for diesel – raises about $500m each week for the federal government.
Suspending it is “a great idea”, Trump told CBS News on Monday. “Yup, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in.”
