POLICY WIRE FACT CHECK: Evaluating Trump’s Claims on Gasoline Prices vs. Biden and Obama Eras
The Claim During a campaign rally in Perry, Georgia, on October 24, 2026, President Donald Trump asserted that current gasoline prices are lower than those experienced during the presidencies of Joe...
The Claim
During a campaign rally in Perry, Georgia, on October 24, 2026, President Donald Trump asserted that current gasoline prices are lower than those experienced during the presidencies of Joe Biden and Barack Obama. Addressing the crowd, Trump stated, You’re still paying lower than (under) Biden and Obama, suggesting that his current economic policies have resulted in more favorable fuel costs for the average American consumer.
This claim, which circulated widely following the rally, was intended to contrast current energy market conditions with those of his predecessors. Given that gasoline prices remain a primary concern for voters, the statement triggered immediate scrutiny regarding the accuracy of comparing nominal prices across different presidential terms and economic cycles.
The Details & Investigation
To evaluate the veracity of this claim, our investigation analyzed three distinct metrics: nominal price points, the duration of price spikes, and the economic burden relative to disposable household income. When examining nominal dollars—the price displayed at the pump without inflation adjustments—Trump’s claim is demonstrably flawed. The national average of $4.42 per gallon at the time of his statement was higher than any daily average recorded during the Obama administration, where the peak reached $4.17. While President Biden saw a record peak of $5.00 per gallon following the 2022 Russian invasion of Ukraine, that price point was short-lived; for 94% of Biden’s tenure, gasoline prices remained below the current $4.42 level.
Furthermore, the duration of high prices reveals a significant discrepancy. Under the current administration, gasoline prices have remained above $4.00 for over 30% of the second term, particularly following the onset of the Iran war. In contrast, prices exceeded $4.00 for only 7% of Obama’s tenure and approximately 11% of Biden’s. This indicates that while Biden experienced a higher absolute peak, the current administration has presided over a more sustained period of elevated fuel costs.
The investigation identifies this claim as MISINFORMATION. While the statement utilizes real-world data points, it relies on a misleading context that ignores the duration of price trends and the specific economic circumstances of previous administrations. By cherry-picking the comparison to Biden’s peak while ignoring the sustained nature of current prices and the lower nominal costs under Obama, the claim presents a distorted view of energy affordability.
To provide a more nuanced perspective, we analyzed the economic burden by calculating the cost of 10 gallons of gasoline as a percentage of weekly disposable income. When adjusted for income, the data shows that gasoline currently accounts for a smaller share of disposable income than it did during seven of the eight years of the Obama presidency and three of the four years of the Biden presidency. However, this metric also confirms that the current share of income spent on fuel is higher than it was during Biden’s final year in office, 2024, contradicting the implication that current costs are universally lower.
The Verdict
The claim that gasoline prices are lower now than under the Biden and Obama administrations is rated HALF TRUE. While the statement is technically accurate when viewed through the lens of disposable income as a percentage of weekly earnings, it is factually incorrect when using nominal price comparisons, particularly regarding the Obama era.
By omitting the context of price duration and the specific economic factors that drove previous spikes, the claim provides an incomplete and potentially deceptive narrative. While current fuel costs may be more manageable for some households relative to income, the assertion fails to account for the sustained nature of current prices compared to the historical averages of the previous two administrations.
Counter-misinformation & disinformation investigation conducted by PolicyWire Editorial Desk (PW).
