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# US Gas Price Update - Trump vs Biden & midterms
- URL: https://www.benchmarkanalytics.com.au/us-gas-price-update-trump-vs-biden-midterms/
- Published: 2026-08-09T03:49:30.000Z
- Updated: 2026-08-09T03:49:30.000Z
- Author: Nick Hossack

The latest weekly US gas price sits at **$4.08** (as of 3 August 2026), well above the $3.72 average recorded so far this year. Prices have run even hotter since the US/Iran conflict began in March, averaging **$4.02** over that period.

 Under **Trump's second term** (20 Jan 2025 – present), the average price has been **$3.34**, ranging from a low of $2.78 in January 2026 to a high of $4.50 in May 2026\. 

That's actually lower than under Biden when the average was **$3.46.** There were also larger swings under Biden, from $2.39 at the start of his presidency to a peak of $5.01 in June 2022, driven largely by the aftermath of Russia's invasion of Ukraine.

The average gas price under Trump's first term starting in 2016 was $2.48, with a minimum recorded at $1.77 in April 2020.

With 92 days until the 2026 midterms, gas prices remain a live political flashpoint. See full tables below. The data below refers to regular gas prices and is sourced from the St.Louis Reserve Bank.

---

| Recent Gas Prices                            |                     |                         |
| -------------------------------------------- | ------------------- | ----------------------- |
| Metric                                       | US Gas Price ($USD) | Dates                   |
| Latest weekly gas price                      | $4.08               | 3 Aug 2026              |
| Days until the mid-term 2026 election        | 92                  | 3 Nov 2026              |
| Average price through 2026                   | $3.72               | 5 Jan 2026 - 3 Aug 2026 |
| Average price since US/Iran conflict in 2026 | $4.02               | 2 Mar 2026 - 3 Aug 2026 |

|  |
|  |

| Gas Prices Under Trump Second Term               |                     |                          |
| ------------------------------------------------ | ------------------- | ------------------------ |
| Metric                                           | US Gas Price ($USD) | Dates                    |
| Price the week before 2024 Presidential Election | $3.07               | 4 Nov 2024               |
| Average price under Trump second term            | $3.34               | 20 Jan 2025 - 3 Aug 2026 |
| Max price under Trump second term                | $4.50               | 11 May 2026              |
| Minimum price under Trump second term            | $2.78               | 12 Jan 2026              |

|  |
|  |

| Gas Prices Under Biden                           |                     |                           |
| ------------------------------------------------ | ------------------- | ------------------------- |
| Metric                                           | US Gas Price ($USD) | Dates                     |
| Price the week before 2020 Presidential Election | $2.11               | 2 Nov 2020                |
| Average price under Biden term                   | $3.46               | 25 Jan 2021 - 13 Jan 2025 |
| Max price under Biden term                       | $5.01               | 13 Jun 2022               |
| Minimum price under Biden term                   | $2.39               | 25 Jan 2021               |

|  |
|  |

| Gas Prices Under Trump First Term                |                     |                           |
| ------------------------------------------------ | ------------------- | ------------------------- |
| Metric                                           | US Gas Price ($USD) | Dates                     |
| Price the week before 2016 Presidential Election | $2.23               | 7 Nov 2016                |
| Average price under Trump first term             | $2.48               | 23 Jan 2017 - 18 Jan 2021 |
| Max price under Trump first term                 | $2.96               | 28 May 2018               |
| Minimum price under Trump first term             | $1.77               | 27 Apr 2020               |