Biden will call for 3-month suspension of gas tax, though officials acknowledge it 'alone won't fix the problem'

And he'll tell oil refining companies to increase their capacity ahead of their planned meeting this week with administration officials.

Combined, the senior administration officials claimed, the steps Biden will call for could reduce the price per gallon of gas by $1.

Yet that figure relies on a number of steps entirely out of the President's control, and officials said Biden would not "speak to it as a precise figure" but rather use it as an example of what his proposals might achieve.

"A federal gas tax suspension alone won't fix the problem we face, but it will provide families a little breathing room as we continue working to bring down prices for the long haul," one senior administration official told reporters.

Even some Democrats have cast doubt previously on a gas tax holiday, noting that the tax provides an important source of funding for road construction.