Problem with a gas tax holiday is that it only masks the problem without actually addressing it. Plus, at some point the holiday will end and we'll be right back where we are. It's certainly better than nothing, at least short-term, but the fundamental problem still remains.
In addition, it may well make the problem worse. A sudden drop in fuel prices will likely result in a corresponding surge in demand, driving commodity prices up. With that, and the eventual reinstatement of fuel taxes, the price ends up being even higher.
Brad