Gas Taxes

Donald Trump and Josh Hawley's Federal Gas Tax Holiday Would Save Drivers Less Than $9 Per Month

It was a bad idea when Biden proposed it, and it's a bad idea now that Trump is proposing it. Want lower gas prices? End the war.

Eric Boehm | 5.18.2026 5:05 PM

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The week before the United States launched its war with Iran, the average gas price in America was less than $3 per gallon.

The war was supposed to last about a month. Twelve weeks later, it is ongoing with no end in sight. The Strait of Hormuz is still closed. Global oil prices have spiked and, as a result, drivers are now paying an average of more than $4.50 per gallon of gas. In all, the higher gas prices have drained an estimated $42 billion out of Americans' wallets.

And with the midterms looming, it is understandable why President Donald Trump and his allies in Congress would want to provide drivers with some relief.

The president has floated the idea of suspending the federal excise tax on gasoline, which adds 18.4 cents per gallon to the price at the pump........

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