United States President Donald Trump has announced plans to suspend the federal gasoline tax in response to rising energy costs linked to the ongoing conflict involving Iran.
Speaking at the White House on Monday, Trump said the suspension would remain in effect “till it’s appropriate,” adding that even though the tax represents a small percentage of fuel costs, it still has a financial impact on consumers already struggling with high prices.
“It’s a small percentage, but you know it’s still money,” he said during a press briefing.
The federal fuel tax in the United States currently stands at 18.4 cents per gallon for gasoline and 24.4 cents per gallon for sel, according to the US Energy Information Administration. A suspension of the tax would require approval from Congress, where Trump’s Republican Party holds a narrow majority in both chambers.
Key Republican lawmakers have already begun moving toward legislative action. Senator Josh Hawley announced plans to introduce a bill supporting the suspension, while Representative Anna Paulina Luna also pledged to bring forward similar legislation in the House of Representatives.
Fuel prices in the United States have risen sharply in recent months, with gasoline and sel reportedly increasing by about 50 percent since late February. The surge has been linked to global supply disruptions following heightened tensions involving Iran, including inility around the Strait of Hormuz, a major oil transit route.
On Monday, the average price of regular gasoline in the US stood at about 4.52 dollars per gallon, while sel averaged around 5.64 dollars per gallon. Analysts note that suspending the federal tax could reduce prices by roughly four percent, though state fuel taxes would remain unced.
The proposal is expected to face debate in Congress as lawmakers weigh its potential impact on federal revenue and consumer relief.
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