U.S. Gas Prices Surpass Biden Average Under Trump
President Donald Trump faces rising fuel costs as average U.S. gasoline prices exceed those of the Biden administration amid conflict with Iran.
Average gasoline prices in the United States have reached $3.472 per gallon, surpassing the $3.471 average recorded during the Joe Biden administration. Current retail prices have climbed to approximately $4.29 per gallon, driven by a war between the United States and Iran that has crippled global oil flows and reduced refining capacity. This surge contradicts a campaign promise by Donald Trump to lower gasoline prices to below $2 per gallon, creating a political liability for Republicans ahead of the midterm elections.
To address the crisis, the Trump administration invoked war-time powers to allocate $150 million for refinery investments and secured a diesel deal with Russia. Diesel prices have also hit record highs, averaging 6% higher under Trump than under Biden.
Industry leaders have questioned the efficacy of these interventions. Valero Energy Corp. and El Paso Holdco LLC argued that the administration's measures are too limited in volume and too slow to implement to provide immediate relief for consumers at the pump.
