Gas prices hit $4.20 per gallon nationwide on Friday, nearly 40% higher than last year, while diesel surged to $6.32—a 70% jump that’s hammering truckers, farmers, and anyone who heats with oil. The spike comes as voters head to Tuesday’s midterm elections, with energy costs poised to be the highest ever recorded on election day.
President Trump pledged during his 2024 re-election campaign to cut energy prices in half within his first year back in office. “My plan will cut energy prices in half or more than that within 12 months of taking office,” he told the New York Economic Club in September 2024. “That means we’re going down and getting gasoline below $2 a gallon.”
Highest Election Day Prices on Record
“Prices have never been this high this late in the year,” said Patrick De Haan, head of petroleum analysis at GasBuddy. The current $4.20 national average exceeds even the 2022 midterms, when Russia’s invasion of Ukraine triggered global energy chaos and gas stood at $3.80.
Diesel’s 70% annual increase poses particular problems beyond the pump. The fuel powers the trucks that move groceries to supermarkets, the tractors that harvest crops, and the furnaces that heat millions of homes heading into winter. Transportation companies pass those costs directly to consumers through higher prices on everything from produce to Amazon deliveries.
What Happened to the Promise
Trump framed cheap energy as the cornerstone of his economic recovery plan during the campaign. “Energy was what caused our problem initially,” he told voters. “Energy is going to bring us back.” The pledge resonated with Americans still reeling from inflation that had eaten into paychecks and retirement savings.
Instead, families filling up this weekend face the steepest late-October fuel costs in history. A typical 15-gallon fill-up now runs $63, compared to $45 a year ago—an extra $936 annually for someone filling up weekly. Diesel drivers face even sharper pain, with that same fill-up costing $95 versus $56 last year.
Tuesday’s Ballot Box Test
Voters will render their verdict on the administration’s economic stewardship in three days. Every trip to the gas station between now and then serves as a visible reminder of promises made versus prices paid.
Key Points
- Gas averaged $4.20 nationally Friday, up nearly 40% from last year and the highest ever for an election day
- Diesel jumped 70% to $6.32 per gallon, driving up costs for trucking, farming, and home heating
- Trump promised in 2024 to cut energy prices in half and push gas below $2 within 12 months of taking office
https://www.cnbc.com/2026/10/31/trump-gas-diesel-price-midterm-election.html – October 31, 2026
