Trump's quest to bring down gas prices ahead of the midterms is not going great
President Donald Trump is attempting last-minute measures to reduce fuel prices before the midterm elections, but these efforts have not yet lowered costs. Trump has promised voters he can decrease prices, but data shows results have not materialized. Current actions include waiving the ban on tax-free dyed diesel on public roads and considering a gas-tax holiday. Despite these moves, 90% of Americans report that prices are the primary factor influencing their view of the economy.
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- ✓ Trump has attempted to lower gas prices ahead of the midterm elections.
- ✓ Efforts to increase diesel supplies have not yet resulted in lower prices.
- ✓ Ninety percent of Americans say prices are the main factor shaping their view of the economy.
What changed
Trump is now pushing officials to use the Defense Production Act to increase oil and fuel output.
Live updates
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Trump efforts to lower fuel costs fail to impact prices before midterms
President Donald Trump is attempting last-minute measures to reduce fuel prices before the midterm elections, but these efforts have not yet lowered costs. Trump has promised voters he can decrease prices, but data shows results have not materialized. Current actions include waiving the ban on tax-free dyed diesel on public roads and considering a gas-tax holiday. Despite these moves, 90% of Americans report that prices are the primary factor influencing their view of the economy.
Why it matters
High fuel costs are a critical vulnerability for the administration heading into the midterms. The president is facing economic headwinds and geopolitical instability, including an ongoing war in Iran.
What is confirmed
- Trump has attempted to lower gas prices ahead of the midterm elections.
- Efforts to increase diesel supplies have not yet resulted in lower prices.
- Ninety percent of Americans say prices are the main factor shaping their view of the economy.
Still unconfirmed
- A fuel deal with Putin may be too little too late to impact prices.
What to watch next
- Official announcement of a gas-tax holiday
- Implementation of the Defense Production Act for fuel output
- Midterm election results regarding economic voter sentiment
confidence 90%Sources used for this update (13)
- BBC — Trump wants to reduce the cost of fuel as the midterms loom - will it work?
- Yahoo Finance — Trump's moves to boost diesel supplies have not yet lowered prices
- www.cbsnews.com — Trump promised to lower prices for Americans. Here's what the data shows.
- The Washington Post — Analysis | Trump is trying last-minute ways to bring down prices
- Reuters — Trump to push US officials to use Defense Production Act to raise oil, fuel output, three sources say
- Business Insider — Trump's quest to bring down gas prices ahead of the midterms is not going great
- Yahoo Finance — For the first time ever, 10-year bond yields track diesel prices more closely than crude, and Trump’s fuel deal with Putin may be too little too late
- Bloomberg.com — Trump’s Energy Midterms Will Be Worse Than Biden’s
- www.businessinsider.com — Trump's Quest to Lower Gas Prices Ahead of Midterms Is Not ...
- nationalsecurityjournal.org — Something Strange Happened to Donald Trump: He Has Almost No ...
- b17news.com — Trump's quest to bring down gas prices ahead of the midterms ...
- www.europesays.com — Trump's quest to bring down gas prices ahead of the midterms ...
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