US gas prices remain above $4 with 58 days to midterms
US regular gasoline remains above $4 a gallon. With 58 days until the midterms, prices are 33% above their level immediately before the 2024 election.
The latest weekly US gas price sits at $4.07 a gallon as of 31 August 2026, well above the $3.76 average recorded so far this year. Prices have run even hotter since the Iran conflict began, averaging $4.03 from the first weekly observation after hostilities commenced.
Under Trump's second term, the average price has now increased to $3.37, ranging from a low of $2.78 in January 2026 to a high of $4.50 in May. The latest price is therefore about 21% above Trump's second-term average and 33% above the $3.07 recorded in the week immediately before the 2024 presidential election.
Trump's second-term average nevertheless remains below the $3.46 average under Biden. Prices also swung much more sharply during the Biden presidency, from $2.39 in January 2021 to a peak of $5.01 in June 2022 following Russia's invasion of Ukraine.
During Trump's first term, the average gas price was substantially lower at $2.48, although that period included the pandemic collapse in demand that pushed gasoline as low as $1.77 in April 2020.
With 58 days until the 3 November 2026 midterm elections, gasoline remains a significant political vulnerability. Prices have eased from their May peak, but they have remained around $4 a gallon throughout August.
The data refer to US regular all-formulations retail gasoline prices, measured weekly in US dollars per gallon and not seasonally adjusted. They are published by the US Energy Information Administration and accessed through the Federal Reserve Bank of St. Louis FRED database.
| Recent Gas Prices | ||
| Metric | US$/gallon | Dates |
| Latest weekly gas price | $4.07 | 31 Aug 2026 |
| Days until 2026 midterm elections | 58 | 3 Nov 2026 |
| Average price through 2026 | $3.76 | 5 Jan – 31 Aug 2026 |
| Average since US/Iran conflict | $4.03 | 2 Mar – 31 Aug 2026 |
| Gas Prices Under Trump Second Term | ||
| Metric | US$/gallon | Dates |
| Price week before 2024 Presidential Election | $3.07 | 4 Nov 2024 |
| Average price under Trump second term | $3.37 | 20 Jan 2025 – 31 Aug 2026 |
| Maximum price under Trump second term | $4.50 | 11 May 2026 |
| Minimum price under Trump second term | $2.78 | 12 Jan 2026 |
| Gas Prices Under Biden | ||
| Metric | US$/gallon | Dates |
| Price week before 2020 Presidential Election | $2.11 | 2 Nov 2020 |
| Average price under Biden term | $3.46 | 25 Jan 2021 – 13 Jan 2025 |
| Maximum price under Biden term | $5.01 | 13 Jun 2022 |
| Minimum price under Biden term | $2.39 | 25 Jan 2021 |
| Gas Prices Under Trump First Term | ||
| Metric | US$/gallon | Dates |
| Price week before 2016 Presidential Election | $2.23 | 7 Nov 2016 |
| Average price under Trump first term | $2.48 | 23 Jan 2017 – 18 Jan 2021 |
| Maximum price under Trump first term | $2.96 | 28 May 2018 |
| Minimum price under Trump first term | $1.77 | 27 Apr 2020 |