What happened
President Donald Trump is considering suspending the federal gas tax, which currently stands at 18.4 cents per gallon. The average price for a gallon of regular gas in the United States is $4.36, up from $3.13 a year ago. Trump mentioned the possibility of suspending the tax while speaking to reporters, but did not provide further details.
The president also commented on the Strait of Hormuz, stating that it is open and that oil flows have exceeded pre-war levels. He attributed the current high gas prices to issues with refineries, including those being closed in certain states and those being targeted by Ukraine in Russia.
Trump's comments come as the cost of gas continues to be a topic of discussion among politicians. Some have blamed the war in Iran for the rising prices, while others have pointed to disruptions in oil shipments and attacks on oil infrastructure as contributing factors.
In a separate move, Trump signed an executive order aimed at lowering diesel costs for farmers and truckers by expanding access to tax-exempt diesel. The order could save truckers around $100 per fill-up.
