finance
Iranian Drone Strikes Empty UAE-Owned VLCC Supertanker Barakah Off UAE Coast
The VLCC supertanker BARAKAH, owned by Abu Dhabi National Oil Company, was hit once by Iranian drones on May 4 while heading west after a secret oil transfer. President Donald Trump said on May 11 he intends to suspend the 18-cents-per-gallon federal gas tax amid national averages heading toward $5, though the move would require congressional approval. Georgia's earlier suspension expires May 19.
May 11, 3:00 PM·1m read2 sources
TA
Nbc NewsAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
The VLCC supertanker BARAKAH, with IMO number 9902615 and owned by UAE’s Abu Dhabi National Oil Company, was struck once by Iranian drones on May 4 while heading back west to fetch more oil after conducting a secret transfer east of the UAE to another tanker.
The vessel was empty of oil cargo at the time of the strike. Satellite imagery obtained on or after May 4 showed the ship in a damaged state.
ADNOC condemned the attacks. The incident comes as national average gas prices are heading toward $5 per gallon as of May 11. President Donald Trump told reporters on May 11 that he intended to suspend the 18 cents per gallon federal gas tax.
Such a suspension would require an act of Congress. Democrats in the House and Senate proposed measures to suspend the gas tax in March. ” In March, Trump said at a Cabinet meeting that he had “thought about” suspending the federal gas tax.
One state has suspended its gas tax as of May 11. Georgia suspended its gas tax in March. That suspension is set to expire on May 19. An average of 51 cents in taxes and fees are added to every gallon of regular gas in America.
Approximately 18 cents per gallon of gas taxes and fees goes to the federal government. 5 percent of the price paid per gallon goes to taxes and fees. Taxes and fees range from 27 cents per gallon in Alaska to 89 cents per gallon in California.
Local taxes are not factored into the data. Some of the federal gas tax money goes toward the Highway Trust Fund, which is used to fund highway and mass transit projects.
