By Ha Thu (CNBC, Reuters) — The U.S. Energy Secretary affirmed that the government is open to all ideas that could lower gasoline prices for consumers, including pausing the federal gas tax. In an interview on May 10 with NBC News, U.S. Energy Secretary Chris Wright was asked whether he would support suspending the federal gas tax. Wright responded: 'The government supports every measure that can lower the retail price of gasoline and reduce costs for Americans.' When asked whether President Donald Trump would support it, Wright said: 'We are open to any idea. Of course every solution must accept trade-offs.' The federal gasoline tax in the United States stands at 18 cents per gallon (0.05 USD per liter). In March, Democratic lawmakers in Congress proposed pausing this tax until October. Gas prices in the United States have risen more than 50% since the start of the conflict, reaching an average of $4.52 per gallon (1.19 USD per liter) on May 10, according to data from the American Automobile Association (AAA). Wright declined to forecast whether the national average price could reach $5 per gallon. 'I cannot forecast energy prices in the near or medium term,' he said, but stressed, 'the United States is currently in a very favorable position,' with large oil and natural gas production. In March, Wright had predicted that gasoline prices would likely fall below $3 per gallon in the summer. However, after eight weeks, prices continued to rise and showed no signs of returning to pre-conflict levels, in a context where Iran continues to block the Hormuz Strait. Experts say that while U.S. action to blockade Iranian ports could reduce Tehran's oil revenue, Tehran is likely to endure the pressure for months. As the United States heads into the summer—peak fuel usage—this is seen as a major hurdle for President Trump and the Republican Party in the November midterm elections. With the conflict showing no signs of easing, analysts say U.S.
fuel prices could continue to exceed old records.
