DESPITE POSSIBLE GAS TAX SUSPENSION, GAS PRICES WILL CONTINUE TO RISE
- Michael Thervil
- May 10
- 3 min read
Written by Michael Thervil
[Gas tax suspension prices rise] With the Trump Administration failing to secure a deal with Iran on their terms to reopen the Strait of Hormuz to the U.S. and other countries that comprise the Collective West, U.S. Secretary of Energy Chris Wright stated to the Press that the Trump Administration is considering suspending American federal gasoline taxes in response to Iranian counter-pressure and resistance of the joint Israeli-American operation in West Asia. Currently the American federal gasoline tax stands at 18.3% and with gas price averaging almost $4.55 a gallon in America, there appears to be a lot of domestic socio-economic pressure on the Trump administration to effectively suspend the federal gas tax to provide economic and commercial relief to Americans.
Despite the Trump Administration considering the suspension of the federal gasoline tax, U.S. Secretary of Energy Chris Wright also stated: “I can’t predict the price of energy”. The words of U.S. Secretary of Energy Chris Wright have appeared to cast indications of uncertainty within both the Trump Administration and the American economy. With airlines either drastically reducing the number of flights and destinations and/or cutting flights and certain destinations altogether, there lies a huge possibility that this year’s summer economy will suffer. Without U.S. Secretary of Energy Chris Wright not being able to predict the future of American gas prices with any degree of certainty, the one thing that he was certain about with a high degree of accuracy was when he made the following statement to Press:
“We’re by far the world’s largest producer of oil. We’re by far the world’s largest producer of natural gas. There’s been no rise in the price of natural gas. That’s the largest primary energy source for the United States, that’s for home heating, that’s for electricity. Gasoline and diesel prices are up, and they will remain up while this conflict’s in place, and then they will come back down. And, ultimately, they’ll come back down lower than they were before.”
It should be noted that when it comes to gas prices coming “back down lower than they were before” he was Speaking in terms of when America stops its joint war of choice against Iran with Israel. However, even if America does stop its joint war of choice with Israel against Iran, the ripple effects of both their aggressive actions and the destabilized domestic oil and gas markets will still bear the ripple for some time within the confines of America. If the suspension of tax on American gasoline doesn’t work, Economists and Political Analysts are taking the position that the Trump Administration may attempt to tap America’s oil and gas reserves to help ease the financial cost and burden Americans are feeling at the pump. That’s when secondary effects must be examined. What we mean by this is that, If the Trump Administration were to tap America's oil and gas reserves to offset today's higher gas cost and inflation, what measures will be put in place to offset today's draining of America's oil and gas reserves in the future?
The avoidance of price predictions by U.S. Secretary of Energy Chris Wright has many Americans reconsidering their travel plans and family activities for the summer. Supporting this claim is that recent statistical data from the AAA motor club has indicated that gas prices have increased to over 50% since the start of the joint Israeli-American war of choice and aggression on Iran. On the international front, the actions of the Trump Administration have made America appear to be “unstable” on the world stage. While Americans struggle at home, governments abroad will more than likely turn to Russia to satisfy their energy needs.
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