Average U.S. pump prices during Trump's term now exceed Biden's

The average price of gasoline paid by U.S. motorists during President Trump's second term has surpassed the average during the Biden administration, according to various reports released this week that analyzed data from the American Automobile Association.

A gallon of regular gas has averaged $3.473 since Trump started his second term, compared with $3.471 under Biden, CNN said Tuesday, noting the gap between the two averages is set to grow wider because the national average remains well above $4/gal.

Prices ⁠for diesel have also surpassed Biden's national average under Trump, at $4.343 vs. $4.078, Reuters reported; U.S. diesel hit a record high of $6.523 on September 22.

During the eight months since the start of the Middle East war, U.S. average pump prices have climbed 43% and diesel prices have surged 70% to the highest level on record.

Gas prices remain well short of the record-high nationwide price of $5.02/gal from June 2022, set during the Biden term in the months after Russia's invasion of Ukraine.

AAA reported the national average for a gallon of regular gasoline was $4.18 on Saturday, down $0.11 during the past week but up $1.14 from a year ago, while the national average for a gallon of diesel was $6.31, down $0.02 from a week earlier but up $2.63 from this time last year.

The 10 most expensive U.S. gasoline markets currently are California ($5.94), Hawaii ($5.65), Nevada ($5.25), Washington ($5.24), and Oregon ($4.83), while the 10 least expensive are North Carolina ($3.42), Georgia ($3.61), Texas ($3.70), South Carolina ($3.72), and Louisiana ($3.74), AAA said.

ETFs: (UGA), (USO), (UCO), (SCO), (USL), (DBO), (DRIP), (GUSH), (USOI)