Trump wants to lift the federal tax on gas. But don’t expect much relief even if it happens | CNN Business

President Donald Trump said Monday that he intends to suspend the federal gas tax amid soaring prices at the pump as the US war with Iran drags on. The spike is deepening consumers’ pessimism about the economy, adding to Republicans’ concerns about their fate in November’s midterm elections. However, pausing the 18.4-cent-per-gallon levy on gas and the 24.4-cent-per-gallon tax on diesel won’t do much to relieve drivers’ pain, multiple experts told CNN. Suspending the tax could wind up pushing up prices more and would hurt the Highway Trust Fund, which depends on the revenue from the levy. Also, Trump would need congressional approval to suspend the federal gas tax — which lawmakers have never done, despite calls now and in the past when fuel prices have risen sharply. In 2022, a Democratic-controlled Congress rebuffed former President Joe Biden’s request to suspend the levy. More recently, several lawmakers have introduced bills to pause the tax. Gas prices have skyrocketed to a nationwide average of $4.52 per gallon on Monday, up from $2.98 per gallon before the conflict began on February 28. The main issue is that oil tankers still can’t pass safely through the St