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Updated · Bloomberg · May 11Trump Backs 18.4-Cent Gas Tax Holiday as US Pump Prices Hit $4.52
11 articles · Updated · Bloomberg · May 11
- Trump said he wants to suspend the federal 18.4-cents-a-gallon gasoline tax for “a period of time” as US drivers face sharply higher fuel costs.
- US pump prices have climbed to $4.52 a gallon while oil surges with the war with Iran still dragging on, driving the push for temporary relief.
- It remains unclear how much of any federal tax cut would actually reach consumers at the pump, leaving the proposal’s real impact uncertain.
Will a gas tax holiday truly lower pump prices, or just be absorbed before reaching consumers? With the Strait of Hormuz closed, can tapping reserves solve an energy crisis experts call the largest in history?