Trump Says Gas Prices Were Higher Under Biden. Here's What the Data Shows
Summary
President Donald Trump said that gas prices and most other product prices were higher under President Biden’s term. Data shows that gas prices were generally higher during Biden’s presidency but have recently risen sharply under Trump due to the Iran war. Inflation was higher under Biden, and while Trump claims most prices were higher then, this is not fully supported by price tracking data.Key Facts
- Gas prices averaged $2.38 per gallon when Biden took office in January 2021.
- When Trump took office in January 2025, gas prices were just over $3.10 per gallon.
- Gas prices rose significantly during Biden’s term, peaking above $5 per gallon in mid-2022 during the Ukraine crisis.
- At the end of Biden’s term, prices were about $3 per gallon.
- Under Trump’s current term, prices fell below $2.80 but then climbed again to over $4.30 after the Iran war started.
- On average, gas prices were slightly higher during Biden’s term ($3.45) than so far during Trump’s term ($3.39).
- Inflation peaked at 9.1% annually under Biden, higher than the 4.2% peak under Trump’s current term.
- Price-tracking data shows that some staple goods like bacon and bread were cheaper under Trump’s presidency than Biden’s.
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