Thursday, May 21Thursday, May 21The topic "15_trump_priceslast_considerationdriving_mondaywhy" appears to focus on Donald Trump’s policies and actions related to rising fuel and food prices, particularly gas and beef, as well as the political and economic considerations driving these decisions as of Monday, May 11, 2026.
Gas Prices and Federal Gas Tax Suspension
Donald Trump announced his support for suspending the federal gas tax amid soaring fuel prices, marking a reversal from [the White House’s](en.wikipedia.org) previous stance that such a move was not under consideration. The national average for regular gasoline reached $4.52 per gallon on Monday, up from $2.98 in late February, driven by the Iran conflict . The Midwest, particularly Ohio, has seen a 72% jump in gas prices due to the conflict .
Trump stated in a CBS News interview on Monday that he would "take off the gas tax for a period of time" and phase it back in once prices decline. However, suspending the 18.4-cent-per-gallon federal tax requires Congressional approval, which is currently controlled by Republicans . Sen. Josh Hawley (R-Mo.) announced plans to introduce legislation on Monday to suspend the tax, with additional bills proposed by Reps. Anna Paulina Luna (R-Fla.) and Jeff Van Drew (R-N.J.) . Democratic lawmakers, including Sens. Mark Kelly (D-Ariz.) and Richard Blumenthal (D-Conn.), have also introduced bills to suspend the tax until October 1 .
Despite Trump’s endorsement, the White House has not confirmed whether he will formally push for Congressional action . The US Department of Energy is also moving to release 53.3 million barrels of oil from strategic stockpiles under an IEA agreement to help mitigate price increases .
Beef Prices and Import Policies
Trump is pursuing measures to increase beef imports to combat record-high prices, including reducing tariffs on foreign beef . The White House has previously investigated meat packers for price fixing and boosted imports from Argentina as part of this effort . However, reducing import barriers is expected to anger domestic ranchers .
Energy Policies Under Trump
Oil majors, including Exxon and Shell, are resuming Arctic exploration in Alaska, a move aligned with Trump’s "drill, baby, drill" energy policy . This shift follows broader efforts to increase domestic oil production amid rising prices.
Political and Economic Considerations
Trump’s push for a gas tax suspension comes as Republicans face political blowback over high fuel prices . The decision to reverse course on the gas tax suspension was driven by rising public pressure and the economic impact of the Iran conflict . Meanwhile, Kevin Warsh, Trump’s nominee for Federal Reserve Chair, is expected to face challenges from resurgent inflation and Trump’s demands for more aggressive monetary policy .
US moves to release more oil stockpiles under IEA agreement US Department of Energy moves to transfer 53.3 million barrels amid rising oil prices.
aljazeera · 9 days ago
Kevin Warsh to face resurgent inflation and an impatient Trump as Fed chair US Senate widely expected to confirm the 56-year-old financier to replace Jay Powell this week
financial times · 9 days ago
Oil majors return to Alaska as state becomes worlds hottest play Exxon and Shell among those resuming Arctic exploration in Trumps drill, baby, drill era
financial times · 9 days ago
Trump plans to import more beef from overseas to bring down record-high prices, report says The White House has previously pushed to investigate meat packers for price fixing and boosted imports from Argentina
independent · 9 days ago
Midwest is bearing the brunt of gas price hikes from Trumps Iran war including 72 jump in Ohio The national average for a gallon of regular gas was $4.52 Monday, up from the $2.98 average in late February before Iran conflict began
independent · 9 days ago
US considers suspending fuel tax as Iran war pushes up prices Republican Senator Josh Hawley introduces legislation after Donald Trump backs move
financial times · 9 days ago
Trump says he will suspend petrol tax amid soaring US fuel prices Suspending a federal tax requires an act of Congress, and there may be procedural delays before it can be achieved.
aljazeera · 9 days ago
![Trump backs federal gas tax suspension President Trump endorsed suspension of the federal gasoline tax in an interview with CBS News Monday.Why it matters: It marks a reversal for the White House as Republicans face political blowback over high gasoline prices.Last week the White House told Axios that a suspension was not currently under consideration.Driving the news: [W]ere going to take off the gas tax for a period of time, and when gas goes down, well let it phase back in, he told CBS.Reality check: Suspending the 18.4 cent-per-gallon tax would require Congress.Sen. Josh Hawley (R-Mo.) posted on X that hell introduce legislation Monday to suspend the tax.At least two other Capitol Hill Republicans — Reps. Anna Paulina Luna (Fla.) and Jeff Van Drew (N.J.) — also posted Monday that theyre introducing bills.The White House did not say whether Trump would seek action from Capitol Hill. Catch up quick: Gasoline prices have soared since the start of the war with Iran. The U.S. average for regular gasoline is currently $4.52 per gallon, per AAA, up from just under $3 per gallon before the conflict.What were watching: The potential for action in Congress, which thus far has not taken up the topic. Democratic Sens. Mark Kelly (Ariz.) and Richard Blumenthal (Conn.) have sponsored a bill to suspend the tax until Oct. 1, and Democratic Rep. Chris Pappas (N.H.) has a companion measure. Go deeper: What a gas tax holiday would actually doEditors note: This story has been updated to note that more Republicans are introducing bills to suspend the gas tax.](https://images.axios.com/RotI72V98TylndsxUMLtq6b4JIo=/0x0:1920x1080/1366x768/2026/05/04/1777919314164.jpeg)
Trump backs federal gas tax suspension President Trump endorsed suspension of the federal gasoline tax in an interview with CBS News Monday.Why it matters: It marks a reversal for the White House as Republicans face political blowback over high gasoline prices.Last week the White House told Axios that a suspension was not currently under consideration.Driving the news: [W]ere going to take off the gas tax for a period of time, and when gas goes down, well let it phase back in, he told CBS.Reality check: Suspending the 18.4 cent-per-gallon tax would require Congress.Sen. Josh Hawley (R-Mo.) posted on X that hell introduce legislation Monday to suspend the tax.At least two other Capitol Hill Republicans — Reps. Anna Paulina Luna (Fla.) and Jeff Van Drew (N.J.) — also posted Monday that theyre introducing bills.The White House did not say whether Trump would seek action from Capitol Hill. Catch up quick: Gasoline prices have soared since the start of the war with Iran. The U.S. average for regular gasoline is currently $4.52 per gallon, per AAA, up from just under $3 per gallon before the conflict.What were watching: The potential for action in Congress, which thus far has not taken up the topic. Democratic Sens. Mark Kelly (Ariz.) and Richard Blumenthal (Conn.) have sponsored a bill to suspend the tax until Oct. 1, and Democratic Rep. Chris Pappas (N.H.) has a companion measure. Go deeper: What a gas tax holiday would actually doEditors note: This story has been updated to note that more Republicans are introducing bills to suspend the gas tax.
axios · 9 days ago
Trump says he wants to reduce federal gas tax till its appropriate Waiving the tax requires Congressional legislation, a body currently controlled by Trumps fellow Republicans
independent · 9 days ago
White House plans to reduce barriers to beef imports in an effort to lower prices Reducing tariffs on beef imports is likely to infuriate ranchers.
politico.eu · 9 days ago