Trump Touts Low Gas Prices During State Of The Union —But Prices Near $3
Forbes Business
by Antonio Pequeño IV, Forbes StaffFebruary 25, 2026
AI-Generated Deep Dive Summary
President Donald Trump highlighted low gas prices during his State of the Union address, claiming they are below $2.30 per gallon in most states, even as national averages approach $3. While some stations offer prices just under $2, GasBuddy reports that only 8 out of 150,000 stations nationwide fall into this category. Trump's assertion came despite the national average rising to $2.98, reflecting a steady increase since January.
The rise in gas prices is attributed to two main factors: the transition to summer-blend gasoline, which costs more due to EPA requirements for cleaner-burning fuel, and geopolitical tensions between the U.S. and Iran. These tensions have increased market anxiety, particularly regarding potential disruptions to oil transport through the Strait of Hormuz. GasBuddy's petroleum analysis indicates that prices could continue to rise by 35-50 cents in the coming months, peaking in April or May.
For businesses, this development is significant as higher gas prices can reduce consumer spending on other goods and services, impacting retail and broader economic activity. Additionally, the connection between geopolitical events and energy markets underscores the need for businesses to plan for potential supply chain disruptions and fluctuating costs.
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Originally published on Forbes Business on 2/25/2026