US Gasoline Prices Under Trump Surpass Biden Era Average Amid Iran War

The average US gasoline price under President Donald Trump has exceeded the average during the Biden administration, with prices surging 43% over eight months amid the Iran war. According to AAA, the average price under Trump is $3.472 a gallon, narrowly surpassing the $3.471 average under former President Joe Biden. Diesel prices have also surged, reaching a record high of $6.53 a gallon. The issue has become a flashpoint for Trump’s Republican Party in midterm elections, as inflation-weary voters are further strapped by elevated energy prices. Trump had pledged to lower gasoline prices to below $2 a gallon, but almost two years into his presidency, the fuel’s retail cost has averaged over $3.47 a gallon. The global market is missing about 400,000 barrels a day of gasoline that would normally be exported from the Middle East, exacerbating the crisis. The Trump administration has taken steps to reduce the impact of fuel supply disruptions, including a diesel deal with Russia and invoking wartime powers to boost fuel production in the US. However, experts say these measures are too limited to meaningfully move prices at the pumps ahead of November’s midterm elections.