trump in favor of suspending federal gas tax as iran ceasefire remains in limbo chris wright energy secretary 18 cents aaa memorial day travel

US-specific retail gasoline price spike driven by geopolitical tensions with Iran. Proposed federal gas tax suspension is a direct consumer relief measure, reducing government revenue but not addressing upstream supply. Strategic reserve release could temporarily increase supply. High driving demand during Memorial Day weekend adds demand-side pressure. Channel: regulatory (tax policy) and demand_spike (travel). Impact on refiners: margin squeeze if crude costs remain high but retail price capped by tax suspension? Actually tax suspension lowers retail price, potentially boosting volume but reducing per-gallon margin for refiners if crude stays high. Upstream producers benefit from high crude prices. Consumer discretionary: higher gas prices reduce disposable income for other spending.