On April 13, 2026, Trump told Fox News' Maria Bartiromo that gas prices “could be the same or maybe a little bit higher” by the November midterms. The national average was $4.12/gallon — up 37% from pre-war levels. Analysts warned prices could hit $5/gallon by May if no peace deal materialized.
The next day, Trump claimed he was “misquoted.” CNN's John Berman laughed on-air since both statements were made to the same Fox host, the first recorded on live television.
The hypocrisy deepened when the administration adopted Biden's playbook. Treasury Secretary Bessent warned gas stations that Treasury would “keep them honest” on the way down. Trump posted on Truth Social: “The United States will not accept PRICE GOUGING from the fertilizer monopoly!” This directly mirrors Biden's September 2022 approach: “Do not — let me repeat, do not — use this as an excuse to raise gasoline prices or gouge the American people.” Trump and Republicans attacked Biden relentlessly for this exact strategy.
Former Biden aide Alex Jacquez: “The difference here is that Trump pressed the $4 gas button for no reason. If he should be pointing the finger at anyone for gouging Americans at the pump, he should be pointing it at himself.”
GasBuddy's Patrick De Haan warned to “prepare for another round of price increases” due to the renewed Hormuz blockade. Syracuse professor Patrick Penfield projected $4.30 by end of week and $5 by May 15.