Trump repeats $2 gas pledge amid record‑high U.S. gasoline prices

Trump reiterates $2‑per‑gallon promise

On Labor Day 2026, former President Donald Trump posted on Truth Social that gasoline would fall to three dollars a gallon and ultimately below two dollars, linking the target to the end of the war in Iran.

Record gasoline prices

Labor Day 2026 was the most expensive in U.S. history, with the national average price reaching $4.15 per gallon, higher than the previous record of $3.82 in 2012.

Past promises and fact‑checks

• Trump has repeatedly promised gasoline below $2 per gallon since 2024.
• In August 2024 he said prices would drop more than 50% within the first year of his presidency.
• Fact‑checkers gave his $2 pledge a zero‑percent chance of being met.
• In February 2026 he claimed prices were below $2.30 in most states, but the actual average was near $3.

War in Iran and price claims

After the United States joined Israel’s airstrikes on Iran in March 2026, White House press secretary Karoline Leavitt said oil and gas prices would drop rapidly. Energy Secretary Chris Wright said there was a “very good chance” of sub‑$3 gas by summer. Nevertheless, the national average rose to $4.11 per gallon on April 15 and $4.55 per gallon on May 7.

Official statements

• Leavitt later described rising prices as “short‑term price fluctuations.”
• Trump’s press secretary urged the Department of Justice to investigate alleged price gouging, noting that the average price was $3.93 on June 24.
• Trump announced a Venezuela oil deal on August 28, claiming it would “substantially lower gas prices for all Americans,” a claim analysts said would not affect retail prices in the near term.

What is confirmed

• Labor Day 2026 average gasoline price was $4.15 per gallon.
• Trump posted a forecast of $3 then below $2 per gallon on Truth Social on September 9, 2026.
• U.S. joined Israel’s airstrikes on Iran on March 10, 2026.
• White House officials made public statements about expected price drops.

What remains unclear

• Whether ending the war in Iran will cause gasoline prices to fall.
• The timing and magnitude of any price impact from the Venezuela oil deal.

Why it matters

The gap between Trump’s repeated low‑price promises and the actual high pump prices highlights the challenges of linking political rhetoric to energy market outcomes. It also influences public perception of the administration’s handling of inflation and energy costs.

Sources

• Protos