This isn't possible unless the government is willing to eat the losses. Crude price is set by the global market. The US gov can eliminate gas taxes, but nada mas, unless it pays. I don't think this will ever happen cause Yanks drive too much anyway. A good deep recession will bring prices down quick enough.
It already happened once, with predictable results (shortages). But that was a generation ago. If I were a cynical power mad contender like our current three are, I'd already have my speech written. When gas peaks this summer, I'd launch an assault on corporate greed, demand price controls on gasoline and scream for more ethanol. That'd cause shortages of food and gas of course, but I'd get votes. There's no problem so big that government and idjut voters can't come along and make it even worse.