US Average Gasoline Price Tops Biden-Era Average, Adding Pressure on Republicans Before Midterms

Deep News
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Under the Trump administration, the average U.S. gasoline price has surpassed the average level seen during the Biden administration, underscoring the political pressure facing Republicans ahead of the midterm elections.

Trump had promised to bring gasoline prices below $2 per gallon, but according to daily data from the American Automobile Association (AAA), nearly two years into his presidency, the average retail gasoline price stands at $3.472 per gallon, almost one cent higher than the $3.471 average during former President Biden's term.

Gasoline prices surged this year after the United States and Israel went to war with Iran. The war severely damaged oil supplies and further squeezed global refining capacity. Over the past eight months, the average U.S. pump price has risen by more than $1 per gallon, while diesel prices have jumped by nearly $3 and broken through record highs.

AAA data showed that as of Sunday, the national average gasoline price was $4.286 per gallon, though the single highest national record was still set during Biden's term. In June 2022, months after Russia invaded Ukraine, gasoline prices reached $5.02 per gallon.

Susan Bell, senior vice president of downstream operations at Rystad Energy, said global markets are currently receiving about 400,000 barrels per day less of gasoline exports from the Middle East than under normal conditions.

As the midterm elections approach, diesel costs have become a focus of the Trump administration in recent weeks. Diesel prices hit a record $6.53 per gallon last month.

The surge in fuel prices has deepened discontent among inflation-weary voters, making it a thorny problem for Republicans. The average diesel price during Trump's term is already about 6% higher than the average during Biden's term.

Trump invoked wartime powers on Thursday to push for increased fuel production. The Energy Department announced last Friday that it had allocated $150 million for refinery investments.

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