Trump Hammered Biden Over Gas Prices. Now His Average Is Higher.

Key Points:

• Average gasoline prices during President Donald Trump’s second term have slightly exceeded those under President Joe Biden, with a gallon costing $3.472 compared to Biden’s $3.471, according to AAA data.
• Ongoing conflicts, including Russia’s war in Ukraine and the US-Israeli war with Iran, have constrained global oil supplies, contributing to elevated fuel prices and prompting emergency oil releases in the US and Europe.
• Despite higher nominal prices, analysts note that inflation adjustments and consumer income levels mean Americans are not paying record amounts relative to income for fuel, though inflation expectations have increased recently.
• Trump’s approval ratings have declined amid concerns over high gasoline prices, with only 31% of Americans approving of his overall performance and 23% approving of his economic handling, according to a recent Reuters/Ipsos poll.
• Diesel prices have also risen under Trump, averaging $4.343 per gallon compared to Biden’s $4.078, with US diesel hitting a record high of $6.523 per gallon in September, impacting key sectors like agriculture and shipping.