May 10 (UPI) — Energy Secretary Chris Wright said Sunday the Trump administration is “open” to the possibility of suspending the federal tax on gasoline sales as prices spike amid the U.S.-Israeli war against Iran.
Wright said during an appearance on NBC’s Meet the Press he and Trump are “open to all ideas” to lower energy prices, including following the lead of some U.S. states in temporarily shelving taxes on gas at the pump amid the price surge.
“All measures that can be taken to lower the price at the pump and lower the prices for Americans, this administration is in support of,” he said. “We are constantly looking for different ideas.”
Citing previous measures such as releasing oil from the U.S. strategic petroleum reserves and “revising federal regulations on summer gasoline blends to make it easier for American refineries to produce more gasoline,” Wright said the suspension of the 18-cents-per-gallon federal tax on gas is also on the table.
“We are working every day to offset this rise in prices because of a critical conflict in Iran to drive prices down, and we’re open to all such ideas,” he said.
Wright’s comments came as the average national price of a gallon of unleaded gasoline stood at $4.52 per gallon as of Sunday, according to the Automobile Association of America.
U.S. drivers have seen sharp increases in pump prices in recent weeks after Iran blocked the vital Strait of Hormuz waterway connecting Persian Gulf oil and natural gas producers with world markets.
The move came in retaliation to a wave U.S.-Israeli bombing attacks on Iran beginning Feb. 28, which Washington and Tel Aviv claim were necessary to prevent the imminent development of a nuclear weapon by Iran’s rulers.
The price of regular gas last week surged 25 cents for the second consecutive week to $4.55 — $1.40 higher than they were a year ago and marking their highest level since 2022, the AAA reported.
Crude oil prices have dipped below $100 per barrel while a fragile cease-fire between the United States and Iran has been in place and negotiations to reopen the Strait have been ongoing. But with global oil supplies tightening, upwards pressure on pump prices continues.
In a separate appearance on CBS News’ Face the Nation on Sunday, Wright refused to predict were gas prices were heading.
“I don’t know the future of gas prices,” he said while admitting that “gasoline and diesel prices are up, and they will remain up while this conflict’s in place, and then they will come back down.
“And, ultimately, they’ll come back down lower than they were before.”
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