Gas Tax "holiday"?

I'm not too wise in the ways of the dismal science, but most economists agree with Obama that a suspension of the gas tax this summer would have little impact.

From the Washington Post:

Most economists side with Obama on the issue. Summer gasoline price spikes are driven by demand for fuel far more than supply issues. Suspending the federal gas tax might have a very temporary impact, but prices would rise back quickly to what's known as "the market-clearing rate." If they did not, the country would quickly face fuel shortages.
That would mean the 18-cent decrease in gas taxes would represent a temporary subsidy to the oil companies, says James Hamilton, an energy economist at the University of California - San Diego.
Hoyer agreed, as did other Democratic congressional leaders, who confirmed a "tax holiday" is unlikely to be part of either a gasoline price bill to be unveiled tomorrow in the Senate or gas-price legislation expected to be attached by the House next week to a war-funding bill.
"A suspension of the tax would not be positive," Hoyer said. "The oil companies would just raise their prices."