President Donald Trump is downplaying concerns about high gas prices as the midterm election approaches, even as Americans paying an average of over $4 per gallon.
Speaking at a recent political rally in Rome, Georgia, Trump said voters are "still paying lower than Biden and Obama."
"I can just see the fake headlines," Trump said. "'President Trump is talking about the money they're making while people are suffering at the pump.' That'll be the headline. But I said I don't give a damn, I'm going to say: We're making a frickin' fortune. Our country is getting stronger and stronger all the time. And those pump prices are going to come down."
The average price of gas in the U.S. was $4.29 per gallon on Monday, Oct. 26, according to AAA, a jump of $1.23
from the same date a year ago.
With that in mind, the USA TODAY Cars Team took a look at what the peak prices were under Trump's most recent predecessors, the president's recent efforts to lower prices, and whether drivers are likely to see any relief before Election Day.
What were the peak gas prices under former presidents Biden and Obama?
The highest recorded monthly gas price average under former President Joe Biden was $5.03 in June 2022, according to the U.S. Energy Information Administration.
The highest monthly average price under former President Barack Obama was $3.96 in May 2011, according to the agency.
The highest average monthly gas price the agency has recorded under Trump is $4.60 in May 2026.
Polls show many Americans appear to be skeptical of Trump's claims that the country is "making a fortune." An Oct. 21 Gallup poll showed only 43% of Americans believed the federal government was capable of making a positive impact on Americans' lives, which was down from 51% who believed so in 2025.
An earlier Gallup poll from July showed only 22% of people viewed the U.S. economy as excellent or good, while 44% called it poor. The same poll showed 67% of people thought the nation's economy is getting worse, compared to only 28% who thought it was getting better.
Will gas prices decrease before Election Day?
Patrick De Haan, head of petroleum analysis at GasBuddy, said in an Oct. 26 blog post that gas prices are unlikely to significantly decrease before Election Day on Nov. 3, despite the fact that Trump and Republican leaders in several states have "pulled virtually every lever available" – besides ending the Iran war.
“Average gasoline prices fell in a majority of states over the last week, though a fresh spike in the Great Lakes driven by a regional refinery issue nearly offset the broader decline, with that situation now beginning to clear up,” De Haan wrote.
“Diesel edged modestly higher nationally, and with the national average for gasoline likely to remain above $4 per gallon and diesel above $6 heading into the U.S. election, the relief motorists and policymakers have been hoping for remains elusive – even as states have moved to cut fuel taxes and the Trump administration has pulled virtually every lever available," De Haan continued.
How has Trump tried to lower gas prices this year?
Despite Trump's assertion that high gas prices are not a big deal, his administration has made several attempts this year to lower prices as voter concerns about pump pain have mounted.
In July, the White House touted the launch of 25 Freedom Fuel gas stations in the northeast United States, all selling fuel at $3.47 a gallon. But the stations were concentrated in Pennsylvania and New Jersey, and they appeared to have little impact on prices at the pump in those states. The average price of gas on Oct. 26 in Pennsylvania was $4.44 per gallon, and the average price in New Jersey was $4.17, according to AAA.
Trump has also previously pressured gas retailers to lower prices at the pump, accusing them of price gouging at a time when oil prices were starting to fall, and pushed Congress to pass legislation that would allow sales of higher-ethanol gasoline.
In an updated 2026 budget request sent to Congress on June 24, the White House requested a new law that would codify "the permanent, year-round sale" of E15 gas, which is gasoline blended with 15% ethanol. Doing so, the White House said, would amount to "an urgent and needed policy change that would expand consumer choice, support domestic fuel production, and provide additional flexibility in fuel markets."
De Haan said in a Sept. 8 blog post that gas prices are likely to remain elevated as long as there is an ongoing military conflict in the Middle East.
"The scale of ongoing geopolitical escalations makes meaningful price relief unlikely in the near term," De Haan wrote. "Motorists should brace for continued volatility ahead.”
Keith Laing is an automotive reporter on the National Trending Desk at USA TODAY. Contact Keith at klaing@usatodayco.com.
This article originally appeared on USA TODAY: Trump downplays high gas prices as election approaches
