The daily business briefing: June 21, 2022

Biden considers a gas-tax holiday, airlines cancel 5,000 flights in busiest weekend since Thanksgiving, and more

Canceled flights
(Image credit: Luke Sharrett/Bloomberg via Getty Images)

1. Biden to decide this week on possible gas-tax holiday

President Biden said Monday he is considering ordering a federal gasoline-tax holiday to help motorists struggling with high fuel prices, and would decide by the end of the week. The move could save drivers as much as 18.4 cents per gallon. A tax holiday is one of several measures the Biden administration is looking at to ease pain at the pump. Gas prices now average nearly $5 per gallon nationwide, according to auto club AAA. Fuel prices were already rising last year and spiked this spring as Russia's invasion of Ukraine disrupted global supply. Biden also said aides were meeting with energy company CEOs to discuss the price increases.

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