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

President Joe Biden said he is considering creating a federal gas tax holiday, which could save Americans as much as 18.4 cents per gallon.

former President Barack Obama, called such a move a "gimmick" on the campaign trail back in 2008.

Biden told reporters after taking a walk along the beach near his vacation home in Delaware that he will decide by the end of the week whether to pause the federal gas tax

The president's comments paint a stark contrast to presidential candidate and then-Illinois Sen. Obama's words from 2008

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

His administration is evaluating options to alleviate the burden of record-high gas prices

The cost of gas began to soar last fall and continued to rise following Russia's invasion of Ukraine in late February

The president accused oil refiners of driving up gas prices in letters sent last week to seven refinery operators

"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," said Biden

The American Petroleum Institute and American Fuel & Petrochemical Manufacturers sent a joint letter to Biden saying that refineries are already operating close to their maximum capacity

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