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US petrol prices hit record high before midterms, hurting Trump

independent.co.uk — November 2, 2026 at 03:01 PM UTC

US petrol prices are set to hit a record high on 2 November, the eve of the midterm elections, according to federal data, dealing a blow to President Donald Trump's approval ratings. Fuel costs have soared since Trump joined Israel in attacking Iran in February, which effectively shut the Strait of Hormuz, a waterway carrying about a fifth of global oil and gas supply. The average gallon price will top $3.46, surpassing the previous record under Joe Biden, with diesel surging 70 percent to $6.30. Trump, who had promised $2-a-gallon gas, now calls the rise "a small price to pay" for Middle East security. He has lifted sanctions on Russia to boost diesel supply and announced an $8bn farmer relief programme, while negotiations over the strait remain deadlocked.

With a significance score of 2.4, this news ranks in the top 17% of today's 32258 analyzed articles.

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