Trump Slashes Gas Tax: Will Prices Plummet?

President Trump just pledged to slash the federal gas tax by 18.4 cents per gallon amid soaring pump prices from the Iran war, sparking a fierce Washington battle over your wallet and highways.

Story Snapshot

Trump declares in CBS News interview: “Yup, we’re going to take off the gas tax for a period of time.”
Gas prices hit $4.52 nationally, $6 in California, up 50% since Iran conflict erupted.
Senator Josh Hawley and Rep. Anna Paulina Luna rush bills to enact suspension.
Energy Secretary Chris Wright signals White House openness on NBC’s Meet the Press.[1]
Congress holds the keys; weekly cost to feds: half-billion dollars, draining Highway Trust Fund.

Trump’s Direct Pledge Ignites Gas Tax Debate

President Trump told CBS News on May 11, 2026, he supports suspending the federal excise tax on gasoline and diesel. The tax stands at 18.4 cents per gallon for gas and 24.4 cents for diesel. Trump called it “a great idea,” promising to lift it temporarily until prices drop, then phase it back. This move targets drivers hammered by fuel costs tied to Iran Strait disruptions.

National average gas prices reached $4.52 per gallon per AAA data on May 11, up $1.54 since late February when Iran tensions boiled over. California drivers face $6 per gallon. Trump linked relief to war resolution, predicting oil prices will “drop like a rock” post-ceasefire, though he called current talks “on life support.”

Republican Lawmakers Mobilize Legislation

Senator Josh Hawley announced he would introduce a bill that day to suspend the tax, directly echoing Trump’s stance. Florida Representative Anna Paulina Luna planned House legislation that week, citing Trump’s remarks. Trump pledged Oval Office support for Hawley’s effort, backing pause “until it’s appropriate.” Democrats had floated similar ideas earlier.

Energy Secretary Chris Wright reinforced openness on NBC’s Meet the Press, stating the administration welcomes all ideas to cut prices for consumers and businesses.[1] This shift followed a White House reversal; early May statements to Axios dismissed consideration amid rising political heat.[2]

Legal Hurdles Demand Congressional Action

Trump lacks unilateral power to suspend the tax; federal law mandates Congressional approval. No executive order can bypass this, as the levy funds the Highway Trust Fund for roads and transit. Passage requires bipartisan votes, facing partisan divides pre-midterms. States like Georgia and Indiana enacted suspensions with mixed pass-through to pumps.

Analysts project $2.1 billion monthly revenue loss, per GasBuddy’s Patrick De Haan. Relief caps at 18.4 cents per gallon—trimming $4.52 to $4.34 nationally—but leaves prices 46% above pre-war levels. Common sense favors swift consumer aid, yet fiscal conservatives eye Trust Fund strain aligning with deficit hawk values.

⛽ TRUMP BACKS TEMPORARY FEDERAL GAS TAX SUSPENSION

President Trump said Monday he supports pausing the 18.4 cents per gallon federal gas tax as prices climb amid the Iran conflict, predicting fuel costs will drop sharply once resolved. Congressional approval would be needed.… pic.twitter.com/aQtJs8SFin

— The Dallas Express News (@DallasExpress) May 11, 2026

Historical federal proposals—over 20 since 2008—stalled in committees, despite 70% state success rate.[1] Election-year timing correlates with 85% of bids when gas exceeds 4% of household budgets. Refiners often capture benefits, as 2022 data showed limited retail drops.[1] Trump’s push tests GOP unity against Democrat skepticism on costs.

Real-World Impact on American Drivers

For a family driving 1,000 miles monthly at 25 miles per gallon, suspension saves $73.6 yearly on gas alone—modest against $1.54 surge pain. Diesel haulers gain more proportionally. Critics label it insufficient; proponents see it as targeted relief restoring purchasing power amid foreign aggression. Conservative principles prioritize taxpayer relief over endless war profiteering by oil cartels.

White House strategy now hinges on bill cosponsors and vote timelines. Hawley’s text and Congressional Record entries loom as next benchmarks. State data from recent holidays offer proof-of-concept, though federal scale amplifies stakes. Drivers watch Congress: will relief pump or fizzle?