Trump Floats Temporary Gas Tax Halt as Pump Prices Soar

A driver pays at a fuel pump at a gas station in Columbus, Ohio.
Photographer: Brian Kaiser/Bloomberg

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By Caitlin Reilly

May 11, 2026 at 3:10 PM UTC

Updated on

May 11, 2026 at 3:50 PM UTC

President Donald Trump voiced support for a gasoline tax holiday to counter rising prices at the pump, as the cost of oil soars while the war with Iran drags on.

Trump told CBS News in a phone interview he would like to pause the federal 18.4 cents a gallon tax on gasoline “for a period of time,” though it’s unclear how much of the tax cut would reach consumers at the pump.