Biden says he’s considering a gasoline tax holiday

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Biden says he’s considering a gasoline tax holiday
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A new law barring sales of bullet-resistant vests to most civilians in New York doesn't cover the type of armor worn by the gunman who killed 10 people at a Buffalo supermarket.

President Joe Biden talks to the media after walking on the beach with his granddaughter Natalie Biden, left, and his daughter Ashley Biden, right, Monday, June 20, 2022 at Rehoboth Beach, Del. – President Joe Biden said Monday that he will decide by the end of the week whether to order a holiday on the federal gasoline tax, possibly saving U.S. consumers as much as 18.4 cents a gallon.

The administration is increasingly looking for ways to spare the public from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA. The Penn Wharton Budget Model released estimates Wednesday showing that consumers saved at the pump because of gas tax holidays in Connecticut, Georgia and Maryland. The majority of the savings went to consumers, instead of service stations and others in the energy sector.

to Biden on Wednesday that said refineries are operating near their maximum capacity already and nearly half of the capacity taken off line was due to the facilities converting to renewable fuel production.

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