Federal gas tax holiday: Biden to call for 3-month suspension
Officials say Biden wants to suspend the 18.4 cents-a-gallon tax on gas and 24.4 cents-a-gallon on diesel fuel. Could save consumers roughly 3.6% at the pump.
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Officials say Biden wants to suspend the 18.4 cents-a-gallon tax on gas and 24.4 cents-a-gallon on diesel fuel. Could save consumers roughly 3.6% at the pump.
Oil futures fell more than 5% on Wednesday to more than 5% against one-month price lows amid growing fears that the Fed's and other central banks'
President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — a move meant to ease financial pressures at the pump that also reveals the political toxicity of high gas prices in an election year
Biden wants to suspend the 18.4 cents-a-gallon tax on gas and 24.4 cents-a-gallon on diesel fuel, administration officials say. Prices are averaging about $5 a gallon nationwide.
By Sabrina Valle and Ruhi Soni (Reuters) -Chevron Corp on Wednesday signaled its move into the booming U.S. liquefied natural gas (LNG) export market with