Republicans could feel 'same fate' as Democrats as gas prices are elevated ahead of midterms, expert says

Gas prices that remain high heading into the November midterms could hurt Republicans the way they hurt Democrats in 2022, according to Patrick De Haan, head of petroleum analysis at GasBuddy. He told Fox Business that costly fuel works against the party in power. In summer 2022, prices averaged $5 a gallon, and Democrats lost their narrow House majority that fall. Republicans now hold both chambers, as Democrats did then. GasBuddy data show a gallon costing $4.42 nationally as of Wednesday.

He said prices have stayed high for seven months, prompting a wave of election-year moves. The Trump administration is weighing a ban on diesel exports, which he said might bring only brief relief. Indiana and Georgia, and possibly Ohio, are considering gas tax relief, while California is waiving fuel requirements. Fox News polling in mid-September shows the share of voters calling fuel a major problem has climbed from 48% two years ago to 61%.

De Haan said prices could fall before the election, but the extent depends on how tensions involving Iran, and Ukraine and Russia, develop. Those conflicts have postponed the usual autumn decline, which normally comes with cheaper winter gasoline and weaker demand in colder weather. White House spokeswoman Taylor Rogers told Fox Business that President Donald Trump is focused on cutting costs and expanding refining capacity after meeting nearly a dozen refiners, and that prices will return to pre-conflict levels while the U.S. keeps control of the Strait of Hormuz.

Summarized by PolitiKool from Fox Business’s reporting. Read the full story at Fox Business →