McCain adds fuel tax cut to his platform as diesel, crude prices soar

| 4/15/2008

As both diesel fuel and crude oil prices remain at or near record highs, presidential hopeful Sen. John McCain has added a plank to his platform: The candidate is calling for a summer vacation from federal fuel taxes.

The Republican presidential hopeful wants the 24.4-cent federal tax on diesel and the 18.4-cent federal tax on gasoline to be removed from Memorial Day through Labor Day this year.

For truckers, that would mean a savings of $48.80 on a 200-gallon fill-up.

McCain’s announcement comes this week as ProMiles is showing diesel at a record high, with the national average at $4.09 per a gallon.

Meanwhile, crude oil was trading at more than $113 per barrel a gallon in New York on Tuesday, April 15, just pennies below the all-time record high set on Monday.