Obama called gas tax holiday a ‘gimmick’ back in 2008 as Biden now says he’s considering it - Fox Business

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President Joe Biden said Monday he is considering creating a federal gas tax holiday, which could save Americans as much as 18.4 cents per gallon, although his ex-boss, former President Barack Obama, called such a move a "gimmick" on the campaign trail back in 2008.

"Yes, I’m considering it," Biden said.

President Joe Biden introduces his granddaughter Natalie Biden, left, to the members of the media as they walk on the beach together with daughter Ashley Biden, right, in Rehoboth Beach, Del., Monday, June 20, 2022.

"We don't know that the oil companies will actually pass on the savings," Obama said at a speech in North Carolina in April 2008.

Biden also said during his remarks Monday that members of his team will meet with major oil company CEOs this week to discuss rising prices at the pump.

The nationwide average for gas prices currently sits at $4.98 a gallon, according to AAA.

"The sharp rise in gasoline prices is not driven only by rising oil prices, but by an unprecedented disconnect between the price of oil and the price of gas," Biden's letters read.

OIL INDUSTRY EXEC BLASTS BIDEN ADMIN'S ‘MIXED MESSAGES’ AS GAS PRICES HIT RECORD HIGHS.

Treasury Secretary Janet Yellen said in Toronto on Monday at a joint press conference with Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland that consumers "are really hurting from higher gas prices" and suggested she is open to a gas tax holiday

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Mutual Fund and ETF data provided by Refinitiv Lipper