Amid rising gas prices tied to the conflict involving Iran and shipping disruptions in the Strait of Hormuz, President Donald Trump said today intends to suspend the federal gas tax “for a period of time,” a move that could bring modest relief to drivers in New Jersey and across the country.

“Yep, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in,” Trump told CBS News. “We’ll be doing something on that.”

The federal gas tax currently stands at 18.4 cents per gallon for gasoline and 24.4 cents for diesel fuel, and any suspension would require congressional approval.

The proposal comes as fuel prices continue climbing sharply following the outbreak of war involving Iran earlier this year.

As of today, the average price for regular gasoline in New Jersey was $4.52 a gallon, and $4.57 in Ocean County – an increase of more than 50% since late February.

In New Jersey, where drivers already pay among the nation’s highest fuel taxes, the federal tax suspension could provide some financial relief, though experts caution the savings may be limited compared with broader market forces driving prices upward.

New Jersey’s state gas tax currently exceeds 38 cents per gallon.

Last month, when asked if the state if the state is considering allowing the sale of the cheaper winter-grade gasoline due to the high price of gas, New Jersey Department of Environmental Protection Acting Commissioner Ed Potosnak says it is “something we are looking at.”

New Jersey requires retail gas stations to begin providing summer-grade gasoline by June 1, with the fuel required to be in use until mid-September. The summer blend uses special additives to reduce evaporation, which can increase fuel prices by about 15 cents per gallon.

Congressional leaders from both parties have previously shown little interest in suspending the federal gas tax, arguing the move could reduce funding for highway and infrastructure projects while offering only temporary price relief at the pump.

However, immediately following Trump’s comments, Missouri Senator Josh Hawley said he will be introducing such legislation today