The Economic Times

How much is the federal gas tax and how much could Americans save as Trump weighs gas tax holiday amid soaring fuel prices

Federal gas tax: US President Trump is considering a temporary federal gas tax suspension amid soaring fuel prices. While the federal tax is 18.4 cents on gasoline and 24.4 cents on diesel, suspending it would offer modest savings, around $2 per tank for sedans. Some states have already implemented their own tax relief, providing more significant price drops.