America.. Gasoline and diesel prices reach their “highest levels ever” on Election Day

As American voters head to the polls to cast their votes in the midterm congressional elections on Tuesday, they will face a constant reminder of the effects of inflation and the war on Iran on the move. Gasoline prices on Election Day are at their highest levels ever recorded. According to data from the American Automobile Association, the local average price of a gallon of regular gasoline was $4.17 on Monday.

Although prices at gas stations have declined over the past few weeks, Tuesday is on track to exceed the record set during the administration of former President Joe Biden during the 2022 Election Day, when the average reached $3.80 per gallon, according to an analysis conducted by the Ofoq News Network of American Automobile Association data. Gasoline prices are currently much higher than they were during the 2024 presidential election, when the average was only $3.10 per gallon.

The state of Michigan - one of the decisive states in these elections - is witnessing the largest increase in gasoline prices over the past twelve months compared to any other American state. The average price in the state rose from $2.97 per gallon at this time last year to reach $4.52 per gallon on Monday. While candidate Donald Trump promised in 2024 to reduce the price of gasoline to two dollars a gallon, the war on Iran contributed to achieving the exact opposite result.

In fact, gasoline prices during Trump's second term (averaging $3.48 per gallon so far) are higher than they were during the Biden administration (averaging $3.471 per gallon). This year witnessed the breaking of the record set in 2022 (158 days) in terms of the number of days in which the price of gasoline reached $4 per gallon or more. This number reached 185 days until Monday.

Prices for diesel - a vital fuel used to power many trucks, tractors, trains and construction equipment - are still hovering near all-time highs. The average price of diesel reached $6.29 per gallon on Monday, making it on track to surpass the previous record set on Election Day 2022, which reached $5.35 per gallon, according to data from the American Automobile Association.

The price of diesel is nearly double the average price of gasoline, which reached $3.56 per gallon on Election Day 2024. When inflation rates are taken into account, fuel prices on Election Day this year do not appear to be very high compared to previous periods.

For example, real prices (adjusted for inflation) were much higher in 2012, during the administration of former President Barack Obama, at $5.07 per gallon. However, voters typically do not account for inflation when filling their cars' gas tanks; Opinion polls show that Trump faces a very negative situation regarding the issue of fuel prices, and as for diesel, its price on Election Day reached its highest level ever, even after adjusting for inflation rates.