White House scrambles for gas-price relief as Iran war drags on

[BumRushDaShow]

Source: Reuters

May 14, 2026 6:04 AM EDT Updated 1 hour ago


May 14 (Reuters) - Trump administration officials are scrambling to contain the economic and political fallout of the war with Iran, three people familiar with the White House's discussions told Reuters, as hopes ​for a quick resolution fade.

U.S. President Donald Trump this week backed suspending the federal gas tax, a step that would knock 18 cents a gallon off motor fuel prices currently averaging more ‌than $4.50 a gallon nationwide. Once viewed by some White House aides as unnecessary, the idea is gaining urgency as officials run low on options to show they are tackling rising costs, said the people, who spoke on the condition of anonymity to discuss sensitive internal deliberations.

Within the White House, a consensus has emerged that with prices up 50% since the start of the war, Trump needs "a visible consumer relief move now," one of the people said. Historically, $4-per-gallon gasoline has been a level that triggers public backlash and economic anxiety.

That's borne ​out since the war started, as consumer sentiment recently dipped to a record low, and U.S. consumer inflation surged to 3.8% in April, highest in nearly three years. More than six in 10 Americans say their household's ​finances have taken a hit from higher gas prices, according to a May Reuters/Ipsos poll that put Trump's economic approval rating at just 30%, down several points since the ⁠beginning of the war.

Now, Trump faces mounting pressure from fellow Republicans who fear economic pain caused by the war could spark voter backlash and cost the party control of the House of Representatives and possibly the Senate in ​November's midterm elections. Administration officials have been poring over market data to gauge whether the national average price could climb to $5 a gallon, according to two people familiar with the discussions. Seven states have already surpassed that mark, AAA data ​shows.

Read more: https://www.reuters.com/business/energy/white-house-has-few-tools-gas-price-relief-iran-war-drags-2026-05-14/

[Griefbird]

1. Keep the gas tax holiday revenue neutral.

Reduce oil industry subsidies by a like amount.

[CrispyQ]

2. I paid $4.60 a gallon for low octane this morning.

Top grade was $5.40 a gallon. Medium was somewhere in between, but has been out of stock for awhile where I shop.

[BumRushDaShow]

3. I paid $4.49 a couple weeks ago

And noticed this past Tuesday when I was out, one of the cheaper stations in my area of Philly, was up to $4.55. I know last month a couple known small high-priced stations were already up to $4.89 (prices for 89 grade).