Here’s what goes into the price of a gallon of gas Published May 13, 2026 6:00AM (EDT) Vehicles sit parked at fuel pumps as regular gasoline prices above $6 per gallon and diesel prices above $7 per gallon are displayed outside a Mobil gas station in Redondo Beach, California on April 30, 2026. (Photo by Patrick T. Fallon/Getty Images) This article was originally published on The Conversation . With gasoline prices still high – averaging over US$4.50 a gallon in mid-May 2026 – President Donald Trump said he wanted Congress to suspend the federal gas tax , which is 18.4 cents a gallon for gasoline and 24.3 cents a gallon for diesel. A bill has been introduced in the Senate , and one is expected to follow in the House, according to Politico, but their fate is unclear. States also charge their own taxes, ranging from 70.9 cents a gallon for gas in California to 8.95 cents in Alaska.…