The Biden administration is proposing a three-month suspension of federal taxes on gasoline and diesel in its latest attempt to tamp down painful prices at the pump. The US federal gasoline tax is 18.4c per gallon and the levy on diesel is 24c/gallon. Should Congress agree to put those taxes on ice for the next three months, some experts say they see fuel prices dropping by 30c or more amid a broader selloff in petroleum.
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