Gasoline and diesel prices break historical records on US Election Day.

November 3 — Gasoline prices are a key indicator of the cost of living for many Americans, and this year's Election Day gasoline prices hit a record high. Although retail prices at gas stations have eased in recent days and weeks, AAA data shows that as of Tuesday, the national average price for regular gasoline was still $4.15 per gallon.

CNN's analysis of AAA data since 2000 found that this is the highest gasoline price on a U.S. Election Day on record, far exceeding the previous record of $3.80 per gallon set in 2022. At that time, U.S. inflation rose to its highest level in 40 years during then-President Biden's term. During the 2024 campaign, Trump sharply criticized Biden for record gasoline prices during his tenure and promised to bring gasoline prices below $2 per gallon.

But the reality is that, largely affected by President Trump's decision to go to war with Iran, gasoline prices are currently more than $1 per gallon higher than on Election Day 2024. At that time, the national average gasoline price was only $3.10 per gallon. In addition, the average gasoline price since Trump's second term has been $3.481 per gallon, also higher than the $3.471 per gallon during Biden's term. However, when inflation is taken into account, gasoline prices do not look as high. After inflation adjustment, the actual national average gasoline price on Election Day 2012 once exceeded $5 per gallon.