California Gas Prices Hit Near-Record Highs Before Midterms

Gasoline prices in California have reached near-record highs, with regular gas exceeding $6 per gallon and premium gas approaching $7. These costs are driven by market forces and a series of levies, including a 63.4-cent state excise tax, an 18.4-cent federal excise tax, and a cap-and-trade program that adds approximately 24 to 25 cents per gallon.

Donald Trump claims that prices will drop following the November 3 midterm elections and the defeat of Iran in an ongoing war. However, reports from The Washington Post suggest that lower prices are unlikely regardless of which party controls Congress.

Both Republicans and Democrats have campaigned on promises to lower food and fuel costs. Critics argue that politicians are using the price hikes as political weapons rather than pursuing structural solutions, such as the construction of new refineries, to address the underlying economic strain on voters.