00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Trump administration officials are weighing a suspension of the federal gas tax,
00:06as gasoline prices remain above $4.50 per gallon nationwide following the war with Iran,
00:13according to Reuters. Officials told Reuters the proposal gained urgency as consumer sentiment
00:18hit a record low, and inflation rose to 3.8% in April. Administration officials are also
00:24monitoring whether the national average gas price could reach $5 per gallon,
00:28with seven states already above that level, according to 808 data.
00:32Trump said higher fuel costs were a small price to pay to prevent Iran from acquiring a nuclear weapon.
00:39The Energy Department also announced plans to loan 53.3 million barrels of oil from the
00:44national security stockpile to ease market concerns. For all things money, visit Benzinga.com.
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