Home / Market Update / Commodities / The US President is about to decide whether to suspend the federal gasoline tax

The US President is about to decide whether to suspend the federal gasoline tax

US President Joe Biden said that he is expected to make a decision this weekend to suspend the federal tax on gasoline, adding that a similar decision should be made based on clear data.

It is worth noting that the study of suspending a tax on gasoline comes at a time when the United States is seeking to overcome sharp increases in gasoline prices and inflation, which reached its highest level in 40 years.

This and Biden again referred to the reluctance or refusal of energy companies to refine more oil.

Check Also

Asia stocks mostly higher; Hang Seng jumps on tech, SoftBank overhang caps Nikkei

Most Asian equities advanced Wednesday, with Hong Kong leading on a sharp rebound in local …