US gasoline at $4.32 a gallon, highest ever before a midterm election

September 15, 2026 at 11:58 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The average US regular gasoline price reached $4.32 per gallon on Monday, the highest level ever recorded at this point in an election cycle, according to Energy Information Administration data. The price has risen nearly $0.25 over the past two weeks, creating a political headwind for President Trump and Republicans seven weeks before the midterm elections. Analysts say seasonal price declines are unlikely this year due to geopolitical disruptions and low strategic reserves.

Key Facts

The average US regular gasoline price was $4.32 per gallon as of Monday, up nearly $0.25 over two weeks.
Gas prices are the highest ever recorded at this point in an election cycle, 49 days before the midterms, according to EIA data going back to 1990.
The second-highest price at this stage was $3.88 per gallon in 2012, and the third-highest was $3.65 in 2022.
Diesel hit an all-time high earlier this month and set another record on Tuesday.
Andrew Lipow of Lipow Oil Associates said price increases are 'wiping out the season savings that the consumer has come to expect.'

Record Prices

The average US regular gasoline price reached $4.32 per gallon on Monday, according to the Energy Information Administration. That is a nearly $0.25 rise over the last two weeks and the highest level ever recorded at this point in an election cycle, based on EIA data going back to 1990. The second-highest price at this stage came in 2012 at $3.88 per gallon, and the third-highest was $3.65 in 2022. Diesel broke through all-time high prices earlier this month and hit another record high on Tuesday.

Political Pressure

President Trump and Republicans face the issue with exactly seven weeks left before the midterm elections. In 2012, then private citizen Donald Trump posted 'Gas prices are at crazy levels--fire Obama!' when prices were $3.88 per gallon. Both 2012 and 2022 were election years with Democratic administrations, and Republicans heavily focused on pump prices. Trump now has few options to lower prices due to widening disruptions in the Middle East and the Strategic Petroleum Reserve at historically low levels after months of withdrawals.

Analyst Outlook

Historical data shows prices tend to decline in the run-up to election day, but this year may be an outlier. Andrew Lipow, president of Lipow Oil Associates, wrote that 'this has been anything but a typical year' and that price increases are 'wiping out the season savings that the consumer has come to expect.' GasBuddy's Patrick De Haan said the transition to cheaper winter-blend gasoline may help some, but 'the scale of ongoing geopolitical escalations makes meaningful price relief unlikely in the near term.'