00:02The Trump administration says it's open to suspending the federal gas tax as prices climb.
00:08The national average now sits at $4.52 a gallon.
00:12That's up more than 50 percent since the war with Iran began.
00:16Drivers pay about 18 cents a gallon in federal taxes.
00:20Even if that tax is paused, prices would still stay well above pre-war levels.
00:25Oil flow through the Strait of Hormuz remains effectively blocked.
00:30That's tightening supply and keeping pressure on prices.
00:32The administration says it's looking at ways to bring costs down, but won't predict where prices go next.
00:39Here's Energy Secretary Chris Wright on NBC Sunday.
00:42All measures that can be taken to lower the price at the pump and lower the prices for Americans this
00:49administration is in support of.
00:51You're saying that you, that President Trump, would be open to suspending the federal gas tax?
00:57We're open to all ideas.
00:59Everything has trade-offs.
01:00All ideas to lower prices for American consumers and American businesses.
01:04Any gas tax holiday would require Congress to act.
01:09Wright said prices are likely to stay high until the conflict in Iran ends.
01:13He would not rule out prices hitting $5 a gallon before that happens.
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