The national average price for diesel hit a record $6.40 per gallon Thursday, up nearly 73% from last year.
<a href="https://gasprices.aaa.com/">AAA data</a> showed diesel averaging $6.3956, up from $3.7075 one year earlier. It was the highest national average the organization has recorded.
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At a campaign rally in North Carolina on Wednesday, President Donald Trump <a href="https://thehill.com/homenews/state-watch/6095554-trump-gasoline-prices-iran-war/">described</a> the higher fuel prices as a relatively small “price to pay” compared to the prospect of Iran obtaining a nuclear weapon, justifying his actions against the Islamic Republic.
“It’s a very inexpensive price to pay for what we’ve done. Remember that,” Trump said. “It’s a little more. Frankly, even if it was a lot more.”
Trump predicted that fuel prices would soon fall sharply. 
“But that’s going to come tumbling down&#8230;That’s going to be like rocket ships in reverse.” 
Diesel prices began climbing after the war with Iran began earlier this year as disruptions to global oil supplies pushed crude prices higher. At the beginning of February, prices hovered around 3.68, but by mid-March diesel prices jumped to $4.80. The increase has accelerated again in recent weeks amid continued instability in the Strait of Hormuz, disruptions to Russian fuel supplies, and damage to a major Saudi pipeline.
Treasury Secretary Scott Bessent has argued that the elevated energy prices will not last indefinitely. In an interview broadcast earlier this month, Bessent predicted that crude oil could fall as low as $40 per barrel after the war ends.
&#8220;We&#8217;re going to get on the other side of this Iran conflict, and I expect that oil will come down,&#8221; Bessent <a href="https://energy.economictimes.indiatimes.com/news/oil-and-gas/us-treasury-secretary-scott-bessent-sees-crude-oil-as-low-as-40-post-iran-war-lower-bond-yields/133788620">said</a>. &#8220;We&#8217;re going to be very much oversupplied in the oil market after this.&#8221;
Gasoline prices are also elevated. The national average reached approximately $4.44 per gallon Thursday, up from $3.20 one year ago, according to AAA. The current average remains about 58 cents below the record of $5.0165 set in June 2022.
Higher fuel prices could create political problems for Republicans ahead of November&#8217;s midterm elections, as Democrats blame the president for the increased costs.  
&#8220;The average American family is spending an additional $4,200 every year because of Donald Trump,&#8221; California Democratic Gov. Gavin Newsom wrote on social media.
Newsom was referencing an estimate released by Democrats on the congressional Joint Economic Committee, which calculated that the average household had spent an additional $4,200 since Trump took office.
&#8220;Trump still can&#8217;t explain what this war is for,&#8221; claimed Sen. Mark Kelly (D-AZ). &#8220;All he&#8217;s delivered is higher gas and grocery prices.&#8221;
A national poll conducted in June found that about two-thirds of registered voters <a href="https://www.thecentersquare.com/national/article_15dcff3d-45ef-4739-b167-d547844ec229.html">say</a> that fuel costs will likely influence their votes in November.

Gasoline

Diesel Prices Hit All-Time High

2026 midterm election

diesel price

donald trump

gas prices

gavin newsom

iran

Americans hitting the road for Labor Day weekend can expect an expensive bill at the pump as gas prices remain near record highs. 
The national average for a gallon of gas on Friday was $4.15, while diesel prices hit a record-high $5.85 per gallon. Labor Day gas prices will be more expensive than ever if the average holds above $4.00, according to fuel industry tracker AAA. 
Much of the current pain at the pump stems from uncertainty in the Strait of Hormuz amid the war between the United States and Iran. Prices across the country have spiked since the war began in February. 
“Continued volatility in the Strait of Hormuz has pushed crude oil prices in the $90 per barrel range. After a record-setting August, this Labor Day weekend is on track to also set a record at the pump,” analysis from AAA found. “Even though gasoline demand decreases this time of year, typically bringing down gas prices, this year is different due to the high cost of crude oil.”
National average gas prices hovered around $4.00 per gallon a month ago and sat at $3.20 just one year ago, <a href="https://gasprices.aaa.com/">according</a> to AAA. Before the war with Iran began, the national average for a gallon was about $3.00.
The average diesel price on Friday broke the record previously set during the early months of the Russia-Ukraine war. Rising diesel prices cause spikes across the board as the cost of transporting goods and equipment increases. 
The Trump administration says relief at the pump is coming as it touts efforts to secure the Strait of Hormuz and deals with the oil-rich Venezuela. Last week, President Donald Trump said he signed a deal with Venezuela to secure majority control of more than 65 billion barrels of oil reserves
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future,” Trump wrote.
This week, the Trump administration <a href="https://www.dailywire.com/news/back-in-business-more-oil-is-coming-from-the-gulf-than-before-iran-war-trump-admin-touts?author=Kassy+Akiva&amp;category=News&amp;elementPosition=0&amp;row=0&amp;rowType=Vertical+List&amp;title=BACK+IN+BUSINESS%3A+More+Oil+Is+Coming+From+The+Gulf+Than+Before+Iran+War%2C+Trump+Admin+Touts">maintained</a> that oil coming through the Persian Gulf had returned to higher levels than before the war started. A new wartime high of 18 million barrels of oil reportedly moved through the Strait of Hormuz on Tuesday, according to American officials.

Trump Administration To Pause Gas Tax As Prices Soar Amid Iran War

Gas Prices Jump As Americans Brace For Most Expensive Labor Day At The Pump Ever

business

strait of hormuz

venezuela

President Donald Trump announced Friday that the United States had reached an agreement with Venezuela securing majority U.S. control of more than 65 billion barrels of oil reserves, touting the deal as a major boost to U.S. energy security and a potential long-term answer to rising gas prices.
Trump announced the agreement in a <a href="https://truthsocial.com/@realDonaldTrump/posts/117175567133618952">Truth Social post</a>, calling it “THE BIGGEST OIL DEAL IN WORLD HISTORY.” 
The president said Secretary of State Marco Rubio and Secretary of War Pete Hegseth negotiated the deal with Venezuela’s interim President Delcy Rodriguez and private businesses.
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future,” Trump wrote.
<iframe class="truthsocial-embed" style="max-width: 100%; border: 0;" src="https://truthsocial.com/@realDonaldTrump/117175567133618952/embed" width="600" allowfullscreen="allowfullscreen"></iframe><script src="https://truthsocial.com/embed.js" async="async"></script>
Trump said the agreement comes “at no cost to the American Taxpayer” and argued that it will strengthen the increasingly close relationship between Washington and Caracas.
Trump did not identify the private businesses participating in the deal or provide details about the agreement&#8217;s structure or how the United States would exercise majority control over the reserves.
The announcement follows the Trump administration’s dramatic intervention in Venezuela earlier this year, when U.S. forces captured then-President Nicolás Maduro and brought him to the United States to face federal narcoterrorism and drug-trafficking charges. 
In the months since Maduro’s removal, Trump has repeatedly emphasized Venezuela’s enormous petroleum reserves and the possibility of bringing American energy companies back into the country.
Venezuela possesses the largest proven oil reserves in the world, with roughly 303 billion barrels of crude oil beneath its territory, <a href="https://www.eia.gov/international/analysis/country/VEN">according to the U.S. Energy Information Administration</a>. The 65 billion barrels cited by Trump represent a substantial portion of the country’s known reserves.
Venezuela has historically produced only a fraction of the oil its reserves would suggest. Years of economic collapse, sanctions, government mismanagement and deteriorating infrastructure have crippled the country’s oil industry, leaving Venezuela responsible for only about 1% of global oil production despite possessing roughly 17% of the world’s oil reserves.
Developing the reserves covered by the agreement could give the United States a significant new source of oil, but any effect on supply would depend on how quickly production could be expanded. 
The timing is particularly significant as Americans face elevated energy prices and the Trump administration attempts to manage the economic fallout from the war with Iran. The conflict has disrupted global oil markets, particularly through the Strait of Hormuz, a critical shipping corridor for crude. 
Oil prices have risen sharply since the conflict began, while the United States has drawn down its Strategic Petroleum Reserve (SPR) to levels not seen in decades, per <a href="https://www.cnbc.com/2026/08/15/strategic-petroleum-reserve-spr-oil-iran-war-caverns.html">CNBC</a>.
The reserve fell below 300 million barrels earlier this month, more than 100 million barrels below its level at the beginning of 2026.
The average price of gasoline in the United States was roughly $4.09 per gallon on Thursday, according to <a href="https://newsroom.aaa.com/2026/08/gas-prices-remain-high-as-august-will-likely-set-new-record/">AAA</a>. Trump has repeatedly argued that increasing American energy production and securing reliable supplies from friendly nations can help bring those prices back down.
“This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States,” Trump wrote. 
The agreement could mark a significant new phase in that relationship if American companies invest in Venezuela’s long-neglected oil infrastructure and substantially increase production. Its ultimate effect on American supply and gasoline prices will depend on how quickly the oil can be developed and brought to market. 
&nbsp;

trump_oil_photo_illustration

Trump Announces ‘Biggest Oil Deal In World History’

marco rubio

oil deal

politics

China slashed its oil imports by more than half after the Iran war began, a move analysts say helped prevent global oil prices from climbing even higher despite major supply disruptions.
“China was definitely the most important factor in keeping prices down,” oil markets analyst Rory Johnston <a href="https://www.theatlantic.com/economy/2026/07/china-iran-usa-oil-prices/688086/?gift=9raHaW-OKg2bN8oaIFlCou6OgfFJt1HZK-qCD-xfA5g&amp;utm_medium=social&amp;utm_campaign=share&amp;utm_source=chatgpt.com">said</a>. 
China typically imports about 11 million barrels of oil per day, but cut back on roughly 5 million after fighting disrupted Middle East energy markets and shipping routes, leaving more crude available to other buyers.
Analysts estimate oil could have reached $150 to $200 per barrel had China continued buying at its normal pace, rather than remaining around $90. China imports more than 70% of the oil it consumes, making it especially sensitive to price spikes. Instead of buying expensive crude on the open market, Beijing has increasingly relied on its strategic reserves, though analysts question how long that strategy can continue.  
Before the war, China’s Foreign Ministry <a href="https://www.anews.com.tr/world/2025/06/23/china-warns-iran-israel-war-could-impact-global-economy">urged</a> all sides to de-escalate tensions, warning that regional conflict could disrupt global energy markets.
&#8220;The international community [should] make greater efforts to promote de-escalation of the conflict and prevent regional instability from having a greater impact on global economic development,&#8221; foreign ministry spokesman Guo Jiakun said. 
The U.S. government estimates China holds nearly <a href="https://www.eia.gov/todayinenergy/detail.php?id=67504" target="_blank" rel="noopener">1.4 billion</a> barrels of oil in underground strategic reserves and commercial storage, enough to last between six months and more than a year depending on consumption. 
China employed the opposite strategy during the COVID-19 pandemic, dramatically increasing imports as oil prices collapsed. U.S. crude exports to China jumped <a href="https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/012021-china-data-2020-crude-imports-from-us-surge-211-to-396000-bd-valued-at-628-bil">211%</a> in 2020 while benchmark oil briefly traded below zero, allowing Beijing to stockpile cheap supplies. 
“China is doing this for China, fundamentally,&#8221; <a href="https://www.axios.com/2026/07/30/china-oil-price-iran-power?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosam&amp;stream=top">said</a> Ruby Osman, a senior policy advisor on China at the Tony Blair Institute. &#8220;But obviously it&#8217;s not unhelpful for China that it has become a global public good.&#8221;

TOPSHOT-VIETNAM-CHINA-DIPLOMACY-POLITICS

China’s Key Role In Your Gas Prices

china

Oil and Gas

oil prices

Oil prices climbed above $100 a barrel Thursday for the first time since May as markets reacted to a major escalation in the war with Iran. 
Brent crude, the international benchmark, briefly traded above the $100 threshold after Iranian-backed Houthi militants attacked two oil tankers transiting the Bab el-Mandeb Strait in the Red Sea. The attacks heightened concerns about global oil shipments as disruptions continued in the Strait of Hormuz. Together, the two waterways handle roughly 30% of the world&#8217;s oil.
Goldman Sachs <a href="https://www.marketwatch.com/story/oil-prices-could-surpass-120-per-barrel-if-disruptions-in-strait-of-hormuz-dont-ease-says-goldman-sachs-047f8f88">warned</a> Brent crude could climb as high as $120 per barrel if disruptions continue in both the Strait of Hormuz and the Bab el-Mandeb Strait.
President Donald Trump responded Thursday by <a href="https://truthsocial.com/@realDonaldTrump/posts/116969243226176328">warning</a> Iran would face dire consequences if the Houthis continued targeting commercial shipping.
Trump said on social media that if the Houthis “do this again, the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves.” 
Reuters separately <a href="https://www.reuters.com/world/middle-east/iran-flew-irgc-commanders-missile-gear-yemens-houthis-sources-say-2026-07-23/">reported</a> that Iran earlier this month flew military commanders, advisers, gold, and weapons into neighboring Yemen, citing two Iranian sources who said between 10 and 21 Islamic Revolutionary Guard Corps commanders were aboard the flight &#8220;to support Houthi operations and provide training on new missile systems.&#8221;
The spike in oil prices also rattled financial markets. The Nasdaq 100 was on <a href="https://www.bloomberg.com/news/articles/2026-07-23/us-stock-futures-drop-as-traders-focus-on-ai-spending-oil-jumps">pace</a> for its worst day in a month, while the Nasdaq Composite fell <a href="https://finance.yahoo.com/markets/live/stock-market-today-thursday-july-23-dow-sp-500-nasdaq-oil-bonds-earnings-084444369.html">2.6%</a>, the Dow Jones Industrial Average dropped 1.1%, and the S&amp;P 500 lost 1.4%. 
The selloff came despite otherwise encouraging economic news, with initial jobless claims <a href="https://finance.yahoo.com/economy/policy/articles/us-weekly-jobless-claims-fall-123957463.html">falling</a> to their lowest level since 1969. 
A sustained rise in crude prices could also complicate the fight against inflation by increasing fuel and transportation costs throughout the economy.
Despite Thursday&#8217;s surge, Goldman Sachs maintained its forecast for Brent crude to average about $80 per barrel in the fourth quarter, citing stronger-than-expected production and weaker demand from China, South Korea, and the Middle East.

Gas pump

Oil Prices Surge Back Across Dire Milestone After Houthis Enter Iran War

Crude Oil

goldman sachs

houthis

IRGC

islamic revolutionary guard corps

Red Sea

Shipping

President Donald Trump on Monday intensified his pressure campaign against gasoline retailers, demanding they immediately cut prices at the pump after crude oil prices fell sharply. 
&#8220;Gasoline Retailers must get their Prices down, IMMEDIATELY!&#8221; Trump wrote on Truth Social. &#8220;They&#8217;re too high considering that Oil is now at $68 a Barrel, and heading south.&#8221;
&#8220;There will be no gauging [sic], which is totally illegal,&#8221; Trump added. &#8220;If Retailers don&#8217;t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number.&#8221;
Trump also singled out California, where gas averages $5.45 a gallon, blaming the state&#8217;s high gasoline taxes for keeping prices elevated. 
&#8220;California should stop charging such heavy Taxes on their Gasoline,&#8221; he said. &#8220;Soon the Tax will be higher than the Product itself, and the United States will not stand for it, nor will the People of California, who are being abused by these ridiculous Taxes, and by their own Government.&#8221;
Earlier this month, Trump <a href="https://www.nbcnews.com/politics/donald-trump/trump-gas-price-gouging-oil-iran-war-hormuz-doj-rcna351522">announced</a> he had directed the Department of Justice to investigate whether major energy companies were unlawfully keeping gasoline prices artificially high despite falling oil costs. <a href="https://www.youtube.com/watch?v=AtrcDXCjOIE">Speaking</a> from the Oval Office last week, he specifically named ExxonMobil, Chevron, Shell, and BP while arguing Americans should already be seeing significantly cheaper gasoline.
&#8220;The gasoline, or the oil prices, have come down so much, and we are not seeing anything at the pump by comparison to what it should be,&#8221; Trump said. &#8220;We should be, in my opinion, at $2.25 right now at the pump.&#8221;
Oil prices surged earlier this year after fighting between the United States, Israel, and Iran disrupted energy markets and shut down the Strait of Hormuz, through which roughly one-fifth of the world&#8217;s oil supply passes. Brent crude briefly climbed above $100 per barrel during the conflict before retreating as ceasefire negotiations eased fears of prolonged supply disruptions.
Crude now trades near $68 per barrel, but gasoline prices have declined more slowly.
According to <a href="https://gasprices.aaa.com/">AAA</a>, the national average price for a gallon of regular gasoline remains around $3.86, well below the recent peak of roughly $4.50 but still considerably higher than where Trump believes prices should be.
Industry representatives argue that retail gasoline prices naturally lag behind movements in crude oil because refiners, distributors, and retailers work through existing inventories purchased at higher prices.
&#8220;Gasoline prices don&#8217;t move in lockstep with crude oil,&#8221; American Petroleum Institute spokeswoman Bethany Williams said after Trump&#8217;s earlier demand for a Justice Department investigation. She added that supply chains, refinery operations, and inventory levels continue to be affected by the recent Middle East conflict.
Chevron Chief Financial Officer Eimear Bonner similarly told <a href="https://www.cnbc.com/2026/06/25/chevron-gas-prices-trump-big-oil.html">CNBC</a> last week that lower crude prices typically take time to work their way through the fuel supply chain before consumers see meaningful savings at the pump.
Trump, however, has remained unconvinced, arguing Americans should already be seeing dramatic relief.

Trump Demands Gas Retailers Slash Prices, Warns Of ‘Big Problems’

The national average gas price dipped below $4 per gallon on Thursday for the first time since March, following President Donald Trump&#8217;s signing of a tentative peace deal with the Islamic Republic of Iran.
Average gas prices stand at $3.99 in the United States, down from $4.03 the day before, <a href="https://gasprices.aaa.com/?state=US">according to AAA.</a> The decline coincides with a <a href="https://apnews.com/article/gas-iran-trump-aaa-72d8e7d7c9dcd0795c37a51864fce8a6">15% drop</a> in the price of U.S. crude this month.
Drivers across the South and Midwest are enjoying some of the nation’s cheapest gasoline. Indiana boasts the nation’s lowest average gas price of $3.39 per gallon, while Oklahoma, Texas, Tennessee, and other red-leaning states remain in the same range. On the East Coast, Maryland, Virginia, Delaware, and Rhode Island have also dropped below $4 per gallon.
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<iframe style="aspect-ratio: 16/9; max-width: 100%; width: 100%; margin: 20px auto 5px; border: 0;" src="https://player.mux.com/6YZDjUqfyPIReT019oxYBRKqW6LyU01vYM?metadata-video-content-type=embed_video&amp;metadata-video-id=99a70f54-7d7d-42ff-8fa4-0e26021ef77e&amp;metadata-video-stream-type=on-demand&amp;metadata-video-title=2026-06-18%20Trump%20Signs%20Iran%20Deal&amp;poster=https%3A%2F%2Fdailywireplus-v2.imgix.net%2Fimages%2Fembedded-videos%2F4db074c6-6eba-48b3-8a4e-e3d4e377777e.png&amp;autoplay=false&amp;accent-color=%23DB3D3B&amp;primary-color=%23ffffff&amp;secondary-color=%23000000" allowfullscreen="allowfullscreen"></iframe>
Credit: The White House via Storyful
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Patrick De Haan, head of petroleum analysis at GasBuddy, <a href="https://x.com/GasBuddyGuy/status/2067594886195343390?s=20">said</a> gas prices could fall below $3 a gallon later this year.
It’s a welcome relief for cash-strapped consumers and perhaps a turnaround for the White House, which has been racing to lower prices ahead of the crucial November elections.
“These fools, who think I haven’t been tough enough on Iran, when the Stock Market Just Hit A RECORD HIGH, and Oil prices are &#8216;tumbling&#8217; down, are either jealous, bad people, or stupid,” President Trump said in a Thursday morning <a href="https://truthsocial.com/@realDonaldTrump/posts/116770180426363226">Truth Social post</a>.
On Wednesday night, Trump formally signed the U.S.-Iran agreement aimed at ending the Middle East conflict during a dinner with French President Emmanuel Macron at the Palace of Versailles following the G7 summit. Iranian President Masoud Pezeshkian reportedly signed on behalf of the Iranian regime, <a href="https://www.dailywire.com/news/live-updates-iranian-protests-intensify-as-citizens-demand-end-to-ayatollah-rule?topStoryPosition=undefined&amp;author=Daily+Wire&amp;category=News&amp;elementPosition=0&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=Trump+Signs+Iran+Deal+In+Surprise+Move%2C+Scrapping+Planned+Ceremony">The Daily Wire</a> previously reported. 
The U.S.-Iran memorandum of understanding guarantees toll-free passage through the Strait of Hormuz for 60 days, but it also calls on Iran, Oman, and other Gulf states to negotiate the waterway’s long-term administration afterward, <a href="https://www.dailywire.com/news/live-updates-iranian-protests-intensify-as-citizens-demand-end-to-ayatollah-rule?topStoryPosition=undefined&amp;author=Daily+Wire&amp;category=News&amp;elementPosition=0&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=Trump+Signs+Iran+Deal+In+Surprise+Move%2C+Scrapping+Planned+Ceremony">raising questions</a> about whether future transit fees could be imposed in a way that benefits Tehran.
Gas prices have remained elevated since the war began, peaking at $4.56 per gallon. By comparison, the national average stood at $3.18 on the same date in 2025, according to AAA.
In May, pain at the pump <a href="https://www.dailywire.com/news/gas-prices-surge-past-an-ugly-mark-in-all-50-states">passed an ugly mark</a>, with all 50 states reporting average gas prices at $4 or higher going into Memorial Day weekend. 
Opening the Strait and lowering oil prices appeared to be a top concern for the president. 
“If I did the opposite, if I went out and continued to bomb them … just bomb the hell out of them, I’d get bad press on that, there&#8217;s nothing I can do,” <a href="https://x.com/Acyn/status/2067288719644918150?s=20">Trump said.</a> “Also, we run out of reserves in about four weeks, you know, there are reserves all over the world, and we would really run out, and there&#8217;ll be a time when you wouldn&#8217;t be able to get it, and you want to see bedlam?”  
&#8220;I didn&#8217;t want to see economic catastrophe. If you kept this going, that could have happened,” <a href="https://x.com/Rory_Johnston/status/2067342729885982986?s=20">Trump added.</a> 
<blockquote class="twitter-tweet" data-media-max-width="560">
Trump on the Iran War MOU: &#8220;I didn&#8217;t want to see economic catastrophe. If you kept this going, that could have happened.&#8221;
It&#8217;s honestly a surreal minute to watch:<a href="https://t.co/K7ZRPYklV5">pic.twitter.com/K7ZRPYklV5</a>
— Rory Johnston (@Rory_Johnston) <a href="https://x.com/Rory_Johnston/status/2067342729885982986?ref_src=twsrc%5Etfw">June 17, 2026</a></blockquote>

Donald Trump

Pain At The Pump Starts To Ease In First Day After Trump Signs Iran Deal

News

The average price of gasoline has fallen below $4 per gallon in half of U.S. states, just days after President Donald Trump announced a tentative peace agreement with the Islamic Republic of Iran.
In 25 states spanning the Southwest to the East Coast, gasoline prices have fallen below $4 per gallon as global oil prices drop to their lowest level since March, <a href="https://gasprices.aaa.com/">according to AAA</a>.
“The decline came as oil prices moved sharply lower in reaction to news of a potential deal between the United States and Iran, though it remains to be seen whether the agreement will hold,&#8221; Patrick De Haan, head of petroleum analysis at GasBuddy, <a href="https://www.wane.com/top-stories/national-gas-price-average-drops-below-4-a-gallon-for-first-time-since-april-says-gasbuddy/">said.</a>  GasBuddy <a href="https://x.com/GasBuddyGuy/status/2066871069466632489?s=20">predicted</a> prices could fall to around $3.75 by the Fourth of July if shipping traffic resumes through the Strait of Hormuz.
It&#8217;s a welcome relief for cash-strapped consumers and perhaps a turnaround for the White House, which has been racing to lower prices and ease the cost-of-living burden ahead of the crucial November elections.
At the national level, the average price of gasoline stands at $4.044, which is down from $4.517. Still, gas prices have remained elevated since the start of the war. At this time in 2025, the national average stood at $3.140, AAA reports.
In May, pain at the pump <a href="https://www.dailywire.com/news/gas-prices-surge-past-an-ugly-mark-in-all-50-states">passed an ugly mark</a>, with all 50 states reporting average gas prices at $4 or higher going into Memorial Day weekend. 
Indiana now reports the lowest gas price in the nation at $3.36 per gallon, with Oklahoma, Texas, Tennessee, and other Southern states only slightly higher. Some East Coast states, including Maryland and Delaware, have dipped below the $4 threshold. 
Out West, gas prices remain above the national average, with California leading at $5.71 per gallon, followed by Washington, Hawaii, and Alaska.
“Americans today will spend &gt;$200 million less on gasoline than they did a month ago, but the cost is still $342 million more than one year ago. Americans will spend ~$1.51 billion today on gasoline,” <a href="https://x.com/GasBuddyGuy/status/2066508092393607663?s=20">De Haan wrote on social media.</a> 
Gas prices dropped, and stocks surged on news of a potential agreement between the United States and Iran. 
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” Trump wrote, adding, “Ships of the World, start your engines. Let the oil flow!” 
A sustained decline in energy prices could also help ease inflation, which has ticked up over the last couple of months. May’s reading showed the hottest inflation rate in three years at 4.2%, <a href="https://www.dailywire.com/news/one-major-cost-is-falling-fast-after-trump-announces-iran-peace-deal?author=Brecca+Stoll&amp;category=News&amp;elementPosition=3&amp;row=0&amp;rowType=Vertical+List&amp;title=One+Major+Cost+Is+Falling+Fast+After+Trump%E2%80%99s+Middle+East+Breakthrough">The Daily Wire previously reported.</a> 
The proposed peace deal is set to become official on Friday, June 19, at a Swiss signing ceremony. 
“I certainly plan to be there, but it’s possible the president himself could be there. We will figure it out, but what we know is that we have got a lot of work to do, but it is a very big win for the American people tonight,” Vice President J.D. Vance said.

Gas Stations As Oil Jumps Most In Four Years As Markets React to Conflict In Iran

See The States Where Gas Has Fallen Below $4

Democrats around the country, including California&#8217;s Gavin Newson, are up in arms over spikes in gas prices caused by President Donald Trump&#8217;s war against Iran. 
Missing in their condemnations is any acknowledgement that nobody is better at spiking gas prices than Democrats.
An analysis of AAA gasoline prices found that drivers in states led by Democrats are paying an average of 41 cents more than drivers in Republican states. Blue states currently average about $4.78 per gallon while red states average $4.37 per gallon
Drivers are hit by the blue-state premium regardless of whether the United States is at war with Iran or not. 
States such as California, Washington, Oregon, and New York have implemented various carbon pricing systems, low-carbon fuel standards, emissions mandates, or cap-and-trade programs that place additional costs on fuel producers and refiners. 
Consumers in those states often see those carbon emission fees reflected at the gas pump as producers pass the costs on alongside already high state taxes. California charges a $0.70 tax per gallon of tax, Illinois $0.66, Washington $0.59 with the rest trailing from there with a majority of these states having automatic increases for inflation. 
Leading the pack is California, where gas is currently $6.14 per gallon. The price is driven up by massive taxes, and costly green initiatives that make high gas prices inescapable for drivers.
Economist Severin Borenstein of UC Berkeley&#8217;s Haas School of Business Energy Institute <a href="https://www.nbclosangeles.com/news/local/california-gas-tax/3862685/?utm_source=chatgpt.com">said</a> that California&#8217;s gas is over a $1.50 higher than the national average “due to the higher taxes we have, the environmental fees we have and that we use a cleaner burning gasoline.”
California law requires that the only fuel allowed is California Reformulated Gasoline, a highly regulated gasoline blend that is more expensive.
Yet Newsom has used the increase caused by unrest in the Middle East as a political cudgel against Trump. Earlier this year he said that the “average price of gas is up 50 cents nationally since Trump launched his war with Iran — the fastest spike at the pump in years.” 
“No amount of spin from Trump and his lackeys can cover up the fact that Americans shelled out an extra $1.5 billion for gas this past week because of his disastrous war with Iran,” Newsom said.
Democratic Senator Patty Murray, who represents Washington, home of the second-highest gas prices in the country, <a href="https://x.com/PattyMurray/status/2047764846876262883">said</a> last month, &#8220;Gas prices and energy prices are surging. Trump wants to totally defund programs that help drive down costs.&#8221;
She added that the Trump administration has blamed Joe Biden’s clean energy policies for causing price increases, saying, “I guess I missed the part where Joe Biden declared war on Iran.”
Washington has a 55 cent tax on every single gallon of gas, and also has strict mandates for special blends of fuel that are more expensive.
When it comes to energy prices, Democrats regularly fight against initiatives that would make things cheaper for consumers.
New York&#8217;s Kathy Hochul, for example, blocked a new pipeline from being built that would dramatically reduce costs for energy in her state.
The American Energy Alliance says &#8220;residents are stuck with higher natural gas prices due to having to import natural gas from overseas as a result of regulatory restrictions preventing the construction of much-needed pipeline infrastructure.”
Hochul was backed by liberals in the U.S. Congress, including House Minority Leader Hakeem Jeffries (D-NY) and Rep. Alexandria Ocasio-Cortez (D-NY). Their statement lists concerns about &#8220;environmental justice,&#8221; &#8220;climate goals,&#8221; and &#8220;marine ecosystems,&#8221; without mentioning cost of living.
“This project, which would bury 17 miles of fracked gas pipeline under the ocean floor in ecologically sensitive waters near Staten Island and the Rockaway Peninsula, poses significant and far-reaching implications for public health, environmental justice communities, climate goals and marine ecosystems,” they <a href="https://www.nytimes.com/2025/10/15/nyregion/house-democrats-hochul-gas-pipeline-nyc.html">said</a>. 
Yet Hochul and other top Democrats in New York are slamming Trump for the Iran war.
&#8220;War with Iran and tariffs are driving up gas prices across the state,&#8221; Hochul said. “ New Yorkers shouldn’t have to foot the bill for the mess Washington Republicans created.”
Senate Minority Leader Chuck Schumer (D-NY) similarly <a href="https://x.com/SenSchumer/status/2054235351665775040">argued</a> last week that “Americans are paying over $4.50 a gallon for gas because Trump refuses to end this war.&#8221;

Inflation Resurgence Squeezes US Voters As Prices Rise

Why Blue States Always Pay More For Gas

california

Democrats

kathy hochul

new york

Fresh polling shows only one demographic group believes Iran is winning the war against the United States. 
By a 13-point margin, Democrats say the United States is losing the war against Iran, <a href="https://static.foxnews.com/foxnews.com/content/uploads/2026/05/fox_may-15-18-2026_national_cross-tabs_may-21-release.pdf?_gl=1*1u4uuop*_ga*TTJPbE8yN2xlNFB0cHB2LUVuTzhaRmlXWFJNNHFyNEROZWVDQlFwZ2tqS1c0LW45bWNGaDAxX0dpbUZxRk9Ucg..*_ga_RH94J2NTVM*MTc3OTQwMzY3OS4yMC4xLjE3Nzk0MDM2ODUuMC4wLjA.&amp;shem=rimspwouoe,">according to Fox News polling</a>, the only demographic group to say so. About 56% of Democrats buy into that narrative, mostly 2024 Kamala Harris voters and white women with advanced degrees. 
<blockquote class="twitter-tweet">
Fox News Poll: Who do you think is winning the war in Iran &#8211; The U.S. or Iran?
🇺🇸 U.S. &#8211; 65% 
🇮🇷 Iran &#8211; 34% 
—— 
Net 
🇺🇸 White: US +31 
🇺🇸 Black: US +39 
🇺🇸 Hispanic: US +48 
🇮🇷 Democrats: Iran +13 
🇺🇸 Republicans: US +79 
🇺🇸 Independents: US +32<a href="https://t.co/neoRG9F023">https://t.co/neoRG9F023</a> <a href="https://t.co/Q032Gz2NaV">pic.twitter.com/Q032Gz2NaV</a>
— InteractivePolls (@IAPolls2022) <a href="https://twitter.com/IAPolls2022/status/2057635369965732063?ref_src=twsrc%5Etfw">May 22, 2026</a></blockquote>
Overall, a significant majority of Americans — 65% — say the U.S. is besting Iran in the Middle East conflict. 
That large coalition includes most Republicans and independents, plus large swaths of white, black, and Hispanic voters. The voters most likely to say America is winning the conflict consist of Trump 2024 voters (89%), white evangelicals (80%), and Catholics (73%). 
For months, Democrats have led the charge in the anti-war messaging, forcing weekly votes on war powers resolutions and even calling for the president&#8217;s removal from office during negotiations.
“This is a threat of genocide and merits removal from office. The president’s mental faculties are collapsing and cannot be trusted,” Congresswoman Alexandria-Ocasio Cortez (D-NY) <a href="https://x.com/AOC/status/2041563794787193194?s=20">said in an April 7 social media post.</a>
Sen. Elizabeth Warren (D-MA) accused Trump of “threatening mass death if he doesn’t get his way.”
“Congress needs to pull the emergency brake now,” <a href="https://x.com/SenWarren/status/2041615549797470590?s=20">she said in a video.</a> “Every Republican who votes to let this war continue bears a portion of the responsibility for what is happening in Trump’s war.”
Senate Minority Leader Chuck Schumer (D-NY) has <a href="https://www.cbsnews.com/news/senate-war-powers-vote-iran-tammy-duckworth/" target="_blank" rel="noopener">vowed to force votes</a> on war powers resolutions every week until the war ends or enough Republicans cross over.
While most Americans agree that the United States is winning the war, voters appear frustrated by rising fuel prices and are increasingly blaming the conflict for pain at the pump. A whopping 91% — which stretches beyond party and demographic lines — say the war with Iran is responsible for high gas prices, according to the Fox News survey. 
All 50 states now report average gas prices at $4 or higher, adding more pain at the pump for travelers ahead of Memorial Day weekend, <a href="https://www.dailywire.com/news/gas-prices-surge-past-an-ugly-mark-in-all-50-states?author=Jacob+Wheeler&amp;category=News&amp;elementPosition=3&amp;row=0&amp;rowType=Vertical+List&amp;title=Gas+Prices+Surge+Past+An+Ugly+Mark+In+All+50+States">The Daily Wire previously reported</a>.
Despite the pain at the pump, AAA projects 45 million Americans will travel at least 50 miles for Memorial Day between Thursday, May 21, and Monday, May 25. The forecast is slightly higher than last year and sets a new Memorial Day weekend record, according to AAA. 
“Memorial Day marks the unofficial start of summer, and for most Americans, it’s a three-day weekend,” Stacey Barber, vice president of AAA Travel, <a href="https://newsroom.aaa.com/2026/05/45-million-americans-planning-memorial-day-weekend-getaways/">said</a>. “Travel demand remains strong, and despite higher fuel prices, many people are prioritizing leisure travel during holiday breaks.”

House Republican Hardliners Warn Of A Delay To Tax Vote

Only One Group Of Americans Think Iran Is Winning

Trump

All 50 states now report average gas prices at $4 or higher, adding more pain at the pump for travelers ahead of Memorial Day weekend.
As of Wednesday, the national average price for a gallon of gas in the U.S. stands at $4.56, <a href="https://gasprices.aaa.com/">according to AAA</a>, a slight increase from a week earlier and up 49 cents from a month ago. One year ago, the average price of gas sat at $3.17. 
Gas prices have slowly but steadily climbed for three straight months since President Trump, on February 28, launched military strikes against Iran&#8217;s nuclear and ballistic missile programs. In response, the Iranian government closed the Strait of Hormuz, significantly straining global oil stockpiles and pushing energy prices higher. 
&#8220;We cannot let them have a nuclear weapon. You want to see the world exploded? You want to see a problem? And this is peanuts,&#8221; <a href="https://x.com/nypost/status/2057133359931777327?s=20">Trump said when asked about gas prices</a>. &#8220;And I appreciate everybody putting up with it for a little while. It won&#8217;t be much longer.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
Trump dismisses rising gas prices as &#8216;peanuts&#8217; <a href="https://t.co/IabdsJSVRF">pic.twitter.com/IabdsJSVRF</a>
— New York Post (@nypost) <a href="https://twitter.com/nypost/status/2057133359931777327?ref_src=twsrc%5Etfw">May 20, 2026</a></blockquote>
Georgia has the lowest gas prices at $4.01 per gallon, according to AAA. Other Southern states, including Mississippi, Louisiana, Oklahoma, Arkansas, and Alabama, also report prices just over $4.
Across the country, California has the highest average gas prices in the United States, with a gallon of gas averaging $6.14 in the Golden State. The top Democrats running for California governor refuse to consider suspending the 61.2-cent state-imposed gas tax, <a href="https://www.dailywire.com/news/top-democrats-could-instantly-lower-gas-prices-they-refuse-to-do-it">The Daily Wire previously reported</a>. Both Republicans in the race, former Fox News host Steve Hilton and Riverside County Sheriff Chad Bianco, said they were in favor of suspending the tax.
Other Western states report higher-than-average gas prices, including Washington at $5.79, Hawaii at $5.65, Oregon at $5.35, and Nevada at $5.27. Gas prices in the Rust Belt, including battleground Michigan, report higher-than-average as well. 
Despite the pain at the pump, AAA projects 45 million Americans will travel at least 50 miles for Memorial Day between Thursday, May 21, and Monday, May 25. The forecast is slightly higher than last year and sets a new Memorial Day weekend record with 39.1 million people traveling by car and 3.66 million expected to fly to their destinations, according to AAA. 
“Memorial Day marks the unofficial start of summer, and for most Americans, it’s a three-day weekend,” Stacey Barber, vice president of AAA Travel, <a href="https://newsroom.aaa.com/2026/05/45-million-americans-planning-memorial-day-weekend-getaways/">said</a>. “Travel demand remains strong, and despite higher fuel prices, many people are prioritizing leisure travel during holiday breaks.” 
Trump, in recent weeks, has teased eliminating the federal gas tax for temporary relief, a proposal that faces an uphill battle in the Republican-controlled Congress. 
“I think it’s a great idea,” the president said in a <a href="https://x.com/nancycordes/status/2053849805185548395">phone interview</a> with CBS’s Nancy Cordes. “Yup, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in.”

Gas Prices

Gas Prices Surge Past An Ugly Mark In All 50 States

Memorial Day

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Secretary of the Interior Doug Burgum delivered a blistering rebuke of California Governor Gavin Newsom on Monday, accusing Newsom of creating a self-inflicted energy crisis as he blames President Donald Trump for his state&#8217;s near-record high gas prices.
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Burgum&#8217;s comments follow months of escalations from Newsom, who has characterized the recent spike in fuel costs as “Donald Trump’s crisis.” Newsom argues that the president’s aggressive foreign policy and military actions in Iran have destabilized global oil markets, sending California’s prices to a staggering $6.15 per gallon this month.
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“California hasn&#8217;t changed anything as it relates to that cost,” Newsom <a href="https://www.youtube.com/watch?v=1XZ2fysBtJk">insisted</a>, claiming that state-level baseline costs have remained static. “The cost at the pump has been for one reason: Donald Trump&#8217;s recklessness as it relates to the war in Iran, period, full stop.” In March, Newsom <a href="https://www.gov.ca.gov/2026/03/10/governor-newsom-blasts-trump-for-raising-gasoline-prices-on-americans-with-no-plan-and-no-accountability/">dismissed</a> Trump’s “Drill Baby Drill” mantra as a “lie to enrich Big Oil donors,” claiming that American families are paying $1.5 billion more at the pump weekly while corporations “cash in on Trump’s chaos.”
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Burgum took the governor to the woodshed, dismantling Newsom’s narrative by pointing to California’s specific policy choices. Burgum highlighted that California has intentionally isolated itself from the American energy grid, effectively becoming an “energy island.”
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“California is leading in highest energy prices, highest taxes, and out-migration,” Burgum stated. “They’ve blocked every pipeline, they block transmission lines &#8230; and then they’re complaining to this administration about their high energy prices.”
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Burgum noted a startling vulnerability in California’s infrastructure: the state is uniquely dependent on oil passing through the Strait of Hormuz. While the rest of the country has increased domestic energy security, California imports roughly 60% of its oil by ship. Burgum also pointed to the systematic dismantling of California’s refining capacity, noting the state has plummeted from 40 refineries to just six, while Texas continues to expand its capacity.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
🚨 HOLY CRAP! Trump Interior Sec. Doug Burgum PUMMELS Gavin Newsom, exposing that California is the only American state to rely on Strait of Hormuz oil — and BLOCKED *every new pipeline*
Yet Gavin blames Donald Trump for his insane gas prices. PATHETIC.
BURGUM: &quot;California was… <a href="https://t.co/BtPXAjA6yi">pic.twitter.com/BtPXAjA6yi</a>
&mdash; Eric Daugherty (@EricLDaugh) <a href="https://twitter.com/EricLDaugh/status/2053927384940958192?ref_src=twsrc%5Etfw">May 11, 2026</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Comparative data underscores the &#8220;California Premium.&#8221; While California gas prices hit $6.15 in May 2026, Texas remains significantly lower at $4.01, and even the leftist bastion of New York sits at $4.58, according to <a href="https://gasprices.aaa.com/">AAA</a>. California’s lowest prices in 2025 were still higher than the highest prices in almost every other state.
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Ultimately, Burgum’s reality check exposes the governor’s rhetoric as a desperate attempt to deflect from decades of radical environmental mandates. While Newsom points fingers at the White House, the data suggests the &#8220;crisis&#8221; is a direct result of California&#8217;s own war on affordable energy.
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By strangling its own production and blocking the very pipelines that would provide relief, Newsom has ensured that Californians pay the highest price for his political agenda — leaving the state to suffer the consequences of a &#8220;condition they created for themselves.&#8221;
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Gavin Newsom/Doug Burgum

Newsom Blames Trump For California’s High Gas Prices. Burgum Takes Him To The Woodshed.

Doug Burgum

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