US Gas Price Update - Trump vs Biden & midterms
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 |