# Petrol prices set to hit record high under Trump on eve of US elections

> An FT analysis of federal data finds the average US petrol price during Trump's second term will exceed $3.46 a gallon on November 2, surpassing the previous average high set under Biden. Fuel costs, which have risen since the Iran war began in February, are a political liability ahead of the midterm elections.

- Date: 2026-11-02 · published 2026-11-02T06:08:27.811Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/74913-petrol-prices-set-to-hit-record-high-under-trump-on-eve-of-us-elections
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Sustained high retail fuel costs reflect tight crude and refined product supply tied to the Iran conflict, which keeps energy input costs elevated for feed producers and transport. Political pressure could influence policy responses on fuel supply.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -0.2% | -16.8% |
| WTI | 2021-10-20 | [The Global Energy Crisis: Implications of Record High Natural Gas Prices - Center on Global Energy Policy at Columbia University SIPA \| CGEP](https://feedsoft.ai/events/44767-the-global-energy-crisis-implications-of-record-high-natural-gas-prices-center.md) | +2.6% | -2.8% |
| WTI | 2021-10-22 | [Global Gas Prices are Soaring to Record Highs. Here's Why.](https://feedsoft.ai/events/11751-global-gas-prices-are-soaring-to-record-highs-here-s-why.md) | +0.2% | -4.4% |
| WTI | 2021-10-15 | [Oil prices rise to three-year high on back of supply deficit forecasts](https://feedsoft.ai/events/44716-oil-prices-rise-to-three-year-high-on-back-of-supply-deficit-forecasts.md) | +1.5% | +0.1% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |
| DIESEL | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | -0.2% | +5.4% |
| DIESEL | 2026-09-10 | [Diesel Price Record High, North Dakota Grain Car Orders Exceed 1,000 \| Grain Transportation Report - News and Statistics - IndexBox](https://feedsoft.ai/events/17638-diesel-price-record-high-north-dakota-grain-car-orders-exceed-1-000-grain.md) | +9.9% | -0.4% |
| DIESEL | 2018-05-18 | [Here’s why diesel prices are aiming for record highs - MarketWatch](https://feedsoft.ai/events/65187-here-s-why-diesel-prices-are-aiming-for-record-highs-marketwatch.md) | -1.0% | -9.0% |

## Sources

- ft.com: https://www.ft.com/content/ee2748fb-9f85-4095-b599-526e5a4a6baa

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.