13:11:05 EDT Mon 11 May 2026
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Chevron CDR (CAD Hedged)
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Close 2026-05-08 C$ 23.43
Market Cap C$ 35,145,000
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Globe/NYT say Chevron hears pause in gas tax proposed

2026-05-11 08:11 ET - In the News

Also In the News (C-XOM) Exxon Mobil CDR (CAD Hedged)
Also In the News (C-ZCOP) ConocoPhillips (COP) BMO CDR (CAD Hedged)

The Globe and Mail reports in its Monday, May 11, edition that Energy Secretary Chris Wright said Sunday that the Trump administration would consider pausing the federal gas tax to provide relief at the pump. A New York Times dispatch to The Globe reports that Mr. Wright said on Meet The Press that the administration supports all measures to lower gas prices for Americans. As of Sunday, the national gas price averaged $4.52 a gallon, with federal taxes adding about 18 cents for gasoline and 24 cents for diesel (all figures U.S.). If these taxes were paused, gasoline would cost $4.34 a gallon, still significantly higher than the $2.98 average two days before President Donald Trump began the Iran war. The small price drop would probably do little to alleviate the financial pain for lower-income Americans, who have been hardest hit by the soaring gas prices. Mr. Trump has said high gas prices will be "short-term," but last month Mr. Wright warned they could stay elevated for months, even after the Iran conflict ends. On Sunday, Mr. Wright was more circumspect, saying, "I can't predict oil or gasoline prices," and noted that prices will decrease with free traffic flow through the Strait of Hormuz.

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