Iran Conflict Pushes U.S. Gasoline Prices Above Biden Era

Average U.S. gasoline prices under Donald Trump have overtaken Biden-era levels, reaching $3.472 per gallon versus $3.471 under Biden, according to data cited by Reuters from AAA. The marginal difference marks a milestone just days before the November 3 midterm elections.

Gasoline now costs around $4.29 per gallon nationwide, compared with $3.05 a year earlier. The increase has been driven largely by the U.S.-Israeli war with Iran, which began in February and has severely disrupted global crude oil shipments, refining operations, and fuel exports from the Middle East. Gasoline prices have risen roughly 43% since the conflict began.

Meanwhile, diesel prices have climbed even more sharply. AAA data show diesel averaging approximately $6.35 per gallon, after reaching an all-time high of $6.53 in September. Shortages of refined products and the disruption of Middle Eastern energy supplies have placed extraordinary pressure on global fuel markets.

In an October 26 market update, Patrick De Haan, head of petroleum analysis at GasBuddy, reported that gasoline prices averaged $4.24 per gallon, down 22 cents from a month earlier but $1.24 higher than a year ago. De Haan expects gasoline to remain above $4 per gallon and diesel above $6 through Election Day. The Trump administration has pursued several measures to ease the crisis, including efforts to increase domestic refining and secure additional diesel supplies, though industry executives warn that restarting idle refineries cannot provide immediate relief.

Key Facts

• Regular gasoline has averaged $3.472 per gallon since Trump returned to office in January 2025, compared with $3.471 during Joe Biden's four-year presidency.
• As of Monday, October 26, AAA reported a national average of approximately $4.29 per gallon for gasoline.
• Diesel prices have averaged approximately $6.35 per gallon, following an all-time high of $6.53 in September.
• The U.S.-Israeli war with Iran began in February, driving a roughly 43% rise in gasoline prices.