Trump’s Promises on Gasoline and Grocery Prices Collide With Rising Costs

President Donald Trump campaigned on promises to lower gasoline and grocery prices, but American consumers continued to face elevated costs in October 2026, raising questions about his administration’s efforts to improve affordability.

Rising gasoline and grocery prices are putting renewed pressure on American consumers as the November midterm elections approach.

Trump pledged during his 2024 campaign to bring gasoline prices below $2 a gallon and argued that lower energy costs would help reduce expenses for groceries, electricity, air travel and housing.

“Energy is going to bring us back. That means we're going down and getting gasoline below $2 a gallon,” Trump said at the Economic Club of New York on September 5, 2024.

However, fuel prices have climbed sharply since the United States and Israel launched attacks on Iran in late February 2026, according to CBS News.

On October 9, the national average price of gasoline reached approximately $4.37 a gallon, up 47% from $2.98 on February 27, the day before the conflict began.

The American Automobile Association’s data also showed that diesel averaged about $6.28 a gallon on October 9. Those figures represent substantial increases, although the gasoline price had not nearly tripled from its February level.

Diesel is widely used in trucking, agriculture and construction. Higher diesel costs can raise the expense of transporting goods and operating equipment, potentially adding pressure to consumer prices.

Food costs have also continued to rise.

Consumer Price Index data cited by CBS News showed that food prices had increased by more than 4% since November 2024, following a cumulative increase of approximately 23% during the preceding four years.

Economists say consumers are still dealing with the cumulative effects of years of inflation. Higher transportation and production costs can add to those pressures, while tariffs and other economic factors may also affect prices.

The rising cost of everyday necessities has become a political concern ahead of the November midterm elections.

Polling cited by CBS News found that affordability remained a major factor in voters’ views of the economy.

Although the administration has promoted its efforts to reduce living costs, the available figures show that gasoline and food prices remain significant burdens for many households.