Average U.S. pump prices during Trump's term now exceed Biden's (UGA:NYSEARCA)
Average U.S. pump prices during Donald Trump's current term have surpassed those seen during the Biden administration. Despite Trump's campaign promise to lower gasoline costs to below $2 per gallon in his first year, prices for gasoline, diesel, and jet fuel have soared. Current price hikes are linked to the Iran conflict and the closure of the Strait of Hormuz. While Pew Research notes that 2008 was costlier when adjusted for inflation and wages, current prices are approaching record highs on the eve of the midterm elections.
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- ✓ Average U.S. pump prices during Trump's term now exceed those from Biden's term.
- ✓ Gasoline, diesel, and jet fuel prices have all increased despite Trump's promises to slash energy costs.
- ✓ Fuel prices have risen following attacks on Iran and the subsequent closure of the Strait of Hormuz.
- ✓ Donald Trump promised voters he would reduce gasoline prices to below $2 per gallon during his first year in office.
What changed
U.S. pump prices under the current Trump administration have now officially exceeded the averages from the Biden era.
Live updates
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U.S. Pump Prices Under Trump Now Exceed Biden Averages
Average U.S. pump prices during Donald Trump's current term have surpassed those seen during the Biden administration. Despite Trump's campaign promise to lower gasoline costs to below $2 per gallon in his first year, prices for gasoline, diesel, and jet fuel have soared. Current price hikes are linked to the Iran conflict and the closure of the Strait of Hormuz. While Pew Research notes that 2008 was costlier when adjusted for inflation and wages, current prices are approaching record highs on the eve of the midterm elections.
Why it matters
Energy costs are a primary concern for voters ahead of the midterms. Trump is attempting to offset these costs by rolling back Biden-era EPA regulations to spread savings through 2050.
What is confirmed
- Average U.S. pump prices during Trump's term now exceed those from Biden's term.
- Gasoline, diesel, and jet fuel prices have all increased despite Trump's promises to slash energy costs.
- Fuel prices have risen following attacks on Iran and the subsequent closure of the Strait of Hormuz.
- Donald Trump promised voters he would reduce gasoline prices to below $2 per gallon during his first year in office.
Still unconfirmed
- A one-dollar price increase could push Trump's popularity to a record low.
- Trump's oil portfolio has increased by 43 percent.
What to watch next
- Midterm election results regarding energy policy
- EPA regulatory changes impact on fuel costs
- Reopening of the Strait of Hormuz
confidence 90%Sources used for this update (16)
- seekingalpha.com — Patient Capital Management Q3 2026 Commentary
- www.pewresearch.org — Gas Prices Are High Now, but for Many Americans They Were Even Higher in the Past
- fortune.com — Trump's rolling back Biden-era regulations as gas sits above ...
- CNBC — Trump promised to slash energy costs — but gasoline, diesel and jet fuel all soared instead
- The Telegraph — The one-dollar price rise that would push Trump’s popularity to record low
- Pew Research Center — Gas Prices Are High Now, but for Many Americans They Were Even Higher in the Past
- 13WHAM-TV — High gas prices weigh on local voters as Election Day nears, drivers say
- www.cnbc.com — Trump promised to slash energy costs — but gasoline, diesel ...
- Seeking Alpha — Average U.S. pump prices during Trump's term now exceed Biden's (UGA:NYSEARCA)
- Foreign Policy — Why Trump’s Hail Mary on Fuel Prices Fell Short
- finance.yahoo.com — Average Gas Price Approaches Record High Under Trump
- bidentotrump.com — Biden to Trump - Gasoline
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