If you’ve been feeling mugged every time you pass by the gas station, take a breath! President Donald Trump just confirmed what millions of drivers have been waiting for: the federal government will temporarily suspend the fuel tax to curb the impact of skyrocketing prices.
In an interview for CBS, the president was clear: “We are going to eliminate the gas tax for a period of time. When the price comes down, we will allow it to be reintroduced gradually.” Although he did not give an exact expiration date for the measure, the message is a lifesaver for the family economy.
How much will you really save?
🚨 IT’S OFFICIAL: President Trump announces plans to dramatically REDUCE the federal gas tax.
“Yeah…as soon as Iran is over, you’re going to see oil and gasoline drop LIKE A STONE.” pic.twitter.com/4ewyWwuoJ7
– Javi🇨🇺 (@JaviXCubaLibre) May 11, 2026
Currently, the federal government charges a flat fee for each gallon you put in your tank.
With this suspension, the direct savings would be:
18.3 cents per gallon of gasoline.
24.3 cents per gallon of diesel.
It seems small, but with the national average hovering around $4.52 per gallon, every penny counts, especially when the increase has been more than 50% since the conflict with Iran erupted.
The Hormuz crisis and oil
Trump announces temporary suspension of federal gasoline tax while fuel prices fall, affected by Middle East conflict and closure of the Strait of Hormuz. 🚗⛽️ https://t.co/4w29mAM6AO
– INFO7MTY (@info7mty) May 11, 2026
The reason for this chaos is no secret: the war and the blockade of the Strait of Hormuz.
Today, with the supply cut off, there are some 14 million barrels per day missing from the market.
However, the White House assures that this is temporary.
Chief economist Kevin Hassett is confident that record US oil production (which broke export records in April) will help prices stabilize faster than we think.
Energy Secretary Chris Wright backed the move, saying the priority is to reduce costs for Americans already struggling with inflation.
With the current truce in the conflict, the government is betting that this fiscal pause will be the push the economy needs to avoid slowing down.
What about you Onnda, do you think that lowering 18 cents is enough or should the government do more to control prices?
In QuéOnnda we keep you up to date with what affects your portfolio. A Nueva Network production.
Filed under: Gasoline tax
