- US gas prices hit a record $4.15 per gallon on Labor Day 2026, the highest ever for the holiday.
- Donald Trump renewed his promise of “below $2” gasoline, now conditioned on winning the war in Iran.
- Trump has made similar promises since 2024, but national averages have consistently remained above $3 and often above $4.
Labor Day 2026 became the most expensive at the pump in American history, with US gas prices averaging $4.15 a gallon. Donald Trump used the occasion to reiterate his long-standing “below $2” promise, this time posting that prices would ultimately reach “below Two Dollars a gallon” but only after winning the war in Iran.
However, Americans are paying record prices this week above $4, breaking even higher than the 2012 Labor Day crisis of $3.82. Trump has repeatedly promised cheaper gasoline since his 2024 campaign, when he told rally attendees that gasoline would “drop by more than 50% within the first 12 months” of his presidency.
By September 2024, he promised gasoline below $2 a gallon, and later vowed to cut energy prices in half within a year. In May 2025, Trump insisted gasoline had broken $1.98, but fact-checkers found no state averaged below $2.60.
During his February 2026 State of the Union, Trump declared gas was below $2.30 in most states, yet the actual average was near $3. Only eight of roughly 150,000 stations sold gas under $2 per gallon. Four days later, the US joined airstrikes on Iran, spiking prices higher.
By April 15, the national average reached $4.11, and on May 7 it hit $4.55. Trump claimed on May 8 that prices had “come down very substantially,” and later vowed they would “drop like a rock” once the war ended.
Throughout summer, Trump continued promising lower prices, but the national average stayed above $4 all August for the first time. His Venezuela oil deal, announced August 28, was dismissed by NYU’s Amy Myers Jaffe as unlikely to affect Labor Day prices. As of publication, AAA’s national average still reads $4.15 per gallon.
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