Gas Is Over $4.50 A Gallon. Trump Says He Wants To Cut The Federal Gas Tax.

If you have been filling up your tank lately, you already know the pain. Gas prices here in the Berkshires have been climbing since the Iran war started back in February, and according to AAA, the national average hit over $4.52 per gallon just this past Sunday.

That is more than a 50 percent increase since the conflict began.

Now President Trump is saying he wants to do something about it. In a phone interview with CBS News this morning, Trump said he plans to suspend the federal gas tax for a period of time. His words were pretty direct: "We're going to take off the gas tax for a period of time, and when gas goes down, we'll let it phase back in." -cbsnews.com

Here is what that actually means for you at the pump. The federal gas tax is 18.4 cents per gallon on regular gas and 24.4 cents per gallon on diesel. Suspending it would not solve the whole problem, but it is real money, especially if you are commuting across the county every day or running a small business with a fleet of vehicles.

There is a catch though. Suspending the gas tax requires an act of Congress, not just a presidential announcement. And that tax money funds road construction and repair projects across the country, including right here in Massachusetts. It would cost the federal government roughly half a billion dollars a week while suspended.

The Iran conflict is also pushing jet fuel prices through the roof. Spirit Airlines already shut down earlier this month because of it. Trump rejected the idea of a bailout for the airlines this morning.

No word yet on a timeline for the gas tax proposal, but Congress will have the final say.