By Aamer Madhani and Josh Boak
The Associated Press
President Joe Biden said Monday that he is considering temporarily freezing the federal gas tax, a move that can save drivers up to 18.4 cents a gallon.
"Yes, I'm considering it," Biden told reporters as he strolled along the beach near his Delaware vacation home, "hopefully I'll have a data-driven decision by the end of the week."
The price of gasoline has skyrocketed since the start of 2022. David Zalubowski / AP
The government is looking for ways to ease rising gasoline prices, which began rising last year and spiked after Russia invaded Ukraine in February.
Gasoline prices across the country are just below $5 a gallon, according to the American Automobile Association, after posting their first drop since April this week.
[Average US Gas Price Hits New Record: $5 Per Gallon]
Biden said members of his administration will meet this week with directors of major oil companies to discuss rising fuel prices.
“I want an explanation for why they are not refining more oil,” said Biden, who criticized companies for making high profits while people are feeling the pressure of high costs at the pumps and inflation.