Story perspectives

U.S. Gas Prices Surge Amid Iran War; Tax Suspensions Considered

3/28/2026

Summary

Story summary

The war in Iran is driving U.S. gas prices toward $4 a gallon, prompting lawmakers to suspend the federal gasoline tax.
U.S. President Donald Trump acknowledged the idea and said states might also suspend their fuel taxes.
The conflict has triggered a global fertilizer shortage, severely impacting farmers in developing countries.
The near shutdown of the Strait of Hormuz disrupted fertilizer supplies and threatens food production as planting season begins.

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Story summary

The war in Iran is driving U.S. gas prices toward $4 a gallon, prompting lawmakers to suspend the federal gasoline tax.
U.S. President Donald Trump acknowledged the idea and said states might also suspend their fuel taxes.
The conflict has triggered a global fertilizer shortage, severely impacting farmers in developing countries.
The near shutdown of the Strait of Hormuz disrupted fertilizer supplies and threatens food production as planting season begins.