Trump says price of oil, gas ‘could be’ down, ‘the same or maybe a little bit higher’ by the midterms
By Tara Suter
Published on April 12, 2026.
President Donald Trump has stated that the price of oil and gas could drop or remain even or increase by the midterms. This follows his announcement that the U.S. military will begin blocking ships from entering the Strait of Hormuz, a key waterway for the oil industry. The average price for a gallon of regular gas in the US is currently about $4.13, up from around $3.60 the previous month. The issue of affordability has been a key issue for both the Republican and Democratic campaigns, with over 30 percent of voters citing the cost of living as the worst in living memory.
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