Rising fuel prices driven by the Middle East conflict and related supply disruptions have prompted renewed calls to suspend the 18.4-cent federal gasoline excise tax. President Trump has repeatedly voiced support for a temporary pause to provide relief at the pump, and both Republican and Democratic lawmakers have introduced bills this year, including measures for 90-day or longer suspensions with general-fund offsets for the Highway Trust Fund. Congress has never enacted such a suspension despite past proposals, and any change requires legislation rather than executive action alone. Recent developments include an October 2026 executive order deferring certain diesel excise taxes and expanding access to tax-free dyed diesel through year-end, alongside multiple state-level tax holidays. Bipartisan proposals remain stalled with Congress in recess, leaving legislative timing and passage as key variables for traders.