As the cost of gasoline continues to rise, President Trump is calling for a temporary suspension of the federal gas tax. Currently, the national tax is 18.4 cents per gallon for gas and 24.4 cents per gallon for diesel. An average of 51 cents in taxes and fees is added to every gallon of gas, with some revenue going to the state levying the tax and the rest to federal coffers. On May 12, 2026, the average price of a gallon of regular gas is $4.50, up from roughly $3.14 a year ago, according to AAA. A cost reduction of 18.4 cents would lower the current average by around 4%. Note that a suspension of the tax requires Congress to pass legislation. Stay tuned.
