NEW YORK — As steep fuel prices strain household budgets during the war with Iran, U.S. President Donald Trump wants to suspend his government’s tax on gasoline. It’s a move Trump can’t do on his own — and the president has yet to specify how long he’d like such pause to last. But lawmakers on … Read more
Americans paid more for their groceries last month, but high gasoline prices resulting from the Iran war were only one of the reasons why. Prices for food eaten at home rose 2.9% in April compared to the same month a year earlier, according to government figures released Tuesday. That was the highest year-over-year inflation rate … Read more
The global oil supply shock stemming from the Iran war is scorching U.S. motorists and other consumers, new federal data makes clear. Higher energy prices accounted for 40% of the total jump in inflation in April, when the Consumer Price Index surged at an annual rate of 3.8% — the fastest increase in nearly three years. … Read more
In places where 15% ethanol blends are available, drivers routinely save 10 to 30 cents a gallon. Source link
After weeks of warnings that the Iran war would drive up U.S. food prices, the numbers are finally in: According to data released Tuesday by the Bureau of Labor Statistics, the category it calls “food at home,” otherwise known as your grocery store bill, rose 0.7% in April. That increase marked the biggest one-month jump … Read more
Trump pushes to suspend federal gas tax as prices soar – CBS News Watch CBS News President Trump told CBS News’ Nancy Cordes that he intends to suspend the federal gas tax amid higher prices. Source link
The Consumer Price Index is widely expected to show inflation has risen to a nearly three-year high when April’s data is released Tuesday morning. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. The Iran war’s wide-ranging economic fallout has caused prices to spike, and economists and analysts project … Read more
President Trump told CBS News’ Nancy Cordes that he wants to temporarily lift the federal gas tax as prices continue to rise amid the ongoing war with Iran. Mr. Trump also said the latest response from Iran to end the war was “a bad proposal … done by people that have no clue as to … Read more
NEWYou can now listen to Fox News articles! House Minority Leader Hakeem Jeffries, D-N.Y., is hammering President Donald Trump over surging gas prices tied to the war with Iran, arguing voter frustration could help Democrats win back the House in November. But four years ago, he urged Republicans not to “play politics” with record prices … Read more
President Trump on Sunday rejected Iran’s latest peace proposal, calling it “totally unacceptable.” With no agreement in sight, Trump officials for the first time over the weekend floated the idea of pausing the national gas tax as prices continue to rise. Source link