Average price of gasoline during Trump's term now exceeds Biden's, as midterms loom

What happened

Americans have paid more on average for gasoline and diesel under President Donald Trump's second term than under Joe Biden, according to AAA. Regular gasoline averaged $3.472 a gallon under Trump versus $3.471 under Biden.

Confirmed

Global impact / market context

Higher pump prices squeeze household budgets because fuel is a recurring cost, leaving less cash for other spending. With midterm elections on November 3, expensive gasoline can hurt voter approval, and Trump's approval fell to 31%, its lowest level in either term.

Analyst inference

Diesel at $4.343 a gallon under Trump versus $4.078 under Biden raises costs for farming, heavy industry and shipping, which can feed into prices of goods. A record $6.523 diesel price on September 22 shows how wars in Ukraine and Iran disrupt fuel supplies.

Analyst inference

What to watch

1. Regular gasoline averaged $3.472 a gallon under Trump and $3.471 under Biden, while diesel averaged $4.343 versus $4.078, per AAA data cited in the article. Confirmed
2. Watch whether fuel prices stay elevated into the November 3 midterms, when Republicans defend narrow majorities in both legislative chambers, since voter approval is already at 31%. Proposed
3. Watch diesel costs for agriculture, heavy industry and shipping, because sustained high diesel raises business expenses, which can lift the prices households pay for goods. Analyst inference

Evidence

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