Trump's War in Iran Sends Gas Prices Soaring to Record Highs Ahead of Midterms

The ongoing war in Iran is causing severe financial hardships for tens of millions of Americans as gas prices are set to reach record highs ahead of the midterm elections. According to GasBuddy, average gas prices over Labor Day will be $4.03 per gallon, a staggering 87 cents higher than in 2025 and exceeding the previous record high of $3.83 a gallon in 2012.

The president's Iran war and the closure of the Strait of Hormuz, as well as Ukraine's bombing of Russian oil refineries with drone strikes, have significantly contributed to the rise in gas prices globally. GasBuddy warns that ongoing geopolitical tensions and disruptions to global oil supplies could push diesel prices to record highs in the coming weeks.

The current national average gas price is $4.12, a dollar higher than last year, when it was $3.12 under President Biden's term. The average cost of gas in the US just before Trump started his war in Iran was $2.98. Since then, prices have nearly reached the record high set in 2022, peaking at $4.56 in mid-May.

Patrick De Haan, head of petroleum analysis at GasBuddy, stated that it has been a challenging year for motorists with constant ups and downs at the pump, which stayed elevated into this final summer holiday. He added that relief may lie ahead if tensions ease, but the pendulum has swung wildly this summer.