Gas prices higher under Trump than Biden as Iran war continues

The average price of gasoline during President Donald Trump's second term is now higher than it was during the Biden era, according to a CNN analysis of AAA data. The development comes nearly eight months into a war with Iran that has destabilized the global energy system.

The milestone has caused frustration for Trump and the Republican Party ahead of the midterm elections. Patrick De Haan, head of petroleum analysis at GasBuddy, said it is astonishing that gas costs more under Trump than under former President Joe Biden, adding that no one would have predicted this ten months ago.

“Making sure that Iran doesn't get a nuclear weapon absolutely has come at a cost.”

During Trump's first term, the national average for regular gas was $2.47 per gallon. Prices fell to as low as $1.77 nationally in April 2020 as the Covid-19 pandemic caused fuel demand to crash.

The White House has taken a range of steps to contain damage from high fuel prices. These include an $8 billion financial lifeline for farmers, the purchase of millions of barrels of Russian diesel, and efforts to reduce extremely high shipping costs.

Energy Secretary Chris Wright appeared on Fox News and said the administration is focused on lowering energy costs despite prices driven up by the Iran war. He acknowledged that preventing Iran from obtaining a nuclear weapon has come at a cost.

Wright said gasoline prices peaked several weeks ago and have been slowly coming down. He added that prices will go lower once conflict-related factors ease, though he called it unfortunate that the elevation is happening around election time.