Joe Biden Is Close to a Decision on a Federal Gas Tax Holiday

Gas prices at a BP Station in McLean, Virginia on June 10.

Gas prices at a BP Station in McLean, Virginia on June 10.Photo: Saul Loeb (Getty Images)

For the first time in a long time, gas prices across the country are consistently going down. The national average price for a gallon of regular gas is back under $5. It’s $4.97 to be exact, according to AAA.

That’s a five cent drop from the record price of $5.02 per gallon set back on June 14th. Is it a huge drop? No, but we will certainly take it. That being said, 17 states and D.C. still have average gas prices at or above the $5 mark.

The drop in diesel prices has been less substantial than gas, but at least it isn’t going up. The average price is now $5.81, which is a penny lower than the record high price set two days ago.

Even though prices are going down a bit, it’s not enough to take away the majority of the pain at the pump most Americans are facing. Now, President Biden is said to be deciding on whether to support a temporary pause on the federal gas tax, according to CNN.

Such a pause in the 18.3-cent-per-gallon federal tax would require Congress to act, and there has been little traction among lawmakers on the idea so far. But the administration is eager to find areas of relief for American consumers contending with skyrocketing gas prices as the summer begins. Monday’s nationwide average for gas was just under $5 per gallon.

Biden said he is also weighing whether to back sending Americans gas rebate cards: “That’s part of what we’re considering, that’s part of the whole operation,” he said.

And questioned whether he was close to deciding on forgiving student debt, fulfilling one of his campaign promises, Biden said: “Yes.”

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The White House has previously downplayed the prospect of sending gas rebate cards directly to Americans because the program would be difficult to administer. But Biden seemed to indicate the idea was still in play, declining to rule it out to reporters on the beach.

With that, let’s take a look at gas prices across the country.

Here is the highest average gas prices in the country in order of highest price for a gallon regular:

Here is the lowest average price of gasoline in the country in order of lowest price per gallon of regular:

At least, there seems to be some hope on the horizon.