Gasoline and diesel prices hit record highs on U.S. Election Day

November 3 marks Election Day in the U.S., with the national average price for regular gasoline reaching $4.15 per gallon—a figure confirmed by the American Automobile Association (AAA) on Tuesday. Though down from recent highs, it sets a new all-time record for Election Day gas prices. CNN’s analysis of AAA’s full dataset dating back to 2000 shows this price is significantly higher than the previous record of $3.80 per gallon set in 2022—when U.S. inflation was surging to its highest level in 40 years under President Biden. During the 2024 election cycle, Donald Trump repeatedly blamed the Biden administration for soaring fuel costs and pledged to bring prices below $2.00 per gallon. In reality, however, gasoline prices have risen more than $1.00 per gallon above the 2024 Election Day average of $3.10—following President Trump’s decision to launch military action against Iran. So far, the average gasoline price during Trump’s second term stands at $3.481 per gallon, slightly above Biden’s $3.471. That said, when adjusted for inflation, the real average price on Election Day 2012 exceeded $5.00 per gallon—far above today’s nominal rate.