Trump promised to slash energy costs, but gasoline, diesel and jet fuel rose instead

FinanceInternationalCNBCOct 31, 2026, 7:49 AM40 s readAI summary

Donald Trump promised during his 2024 campaign to cut gasoline prices below $2 a gallon in his first year in office. According to GasBuddy, gasoline and diesel prices are forecast to be the highest ever on an election day: gasoline averaged $4.20 a gallon and diesel $6.32, up nearly 40% and 70% in a year. Prices spiked after the joint attack with Israel on Iran on Feb. 28 and the retaliation in the Strait of Hormuz.

In 40 seconds

Trump promised in 2024 gasoline below $2 a gallon in his first year in office.
Gasoline averaged $4.20 a gallon and diesel $6.32, according to figures cited by CNBC.
GasBuddy forecasts the highest prices on an election day: nearly 40% higher for gasoline and 70% for diesel versus a year earlier.

Read the full story at CNBC

IASummary generated by artificial intelligence from a story by CNBC. It may contain errors: the original source prevails.

gasolina
diésel
petróleo
Trump
energía

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Trump promised to slash energy costs, but gasoline, diesel and jet fuel rose instead

In 40 seconds

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Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day