U.S. President Joe Biden is due to speak Wednesday about gas prices and economic effects of Russia’s war in Ukraine as he considers whether to support suspending the nation’s federal gas tax. 

Biden has said he would make his decision by the end of the week. 

The gas tax is set at 18.4 cents per gallon, with most of the money going toward road construction projects. 

Average gas prices in the United States are at about $5 per gallon. Fuel prices around the world have risen in recent months, with rebounds in demand, refining capacity challenges, and sanctions against major oil producer Russia among the contributing factors. 

White House press secretary Karine Jean-Pierre told reporters Tuesday that the issue is a top priority for Biden and “all options are on the table.” 

“He’s going to do everything that he can to make sure he relieves some pain and some pressure that Americans are feeling at the pump,” Jean-Pierre said. 

Opponents of suspending the tax, including some Democratic lawmakers, say the move would not address supply problems and would take money away from infrastructure needs. 

Some information for this report came from The Associated Press and Reuters.
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