{
  "id": 17300888,
  "title": "Gasoline Up 34% and Heating Oil Up 74% as Voters Head to the Midterms",
  "url": "https://urgent.news/2026/10/30/gasoline-up-34-and-heating-oil-up-74-as-voters-head-to-the-midterms",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T22:00:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Energy/Gas-Prices/Gasoline-Up-34-and-Heating-Oil-Up-74-as-Voters-Head-to-the-Midterms.html"
  },
  "original_language": "en",
  "account": "As the country heads into the midterms, energy prices have reached unprecedented levels, potentially disrupting both political campaigns and the energy sector's bottom line. The latest data reveals that gasoline prices in the United States have climbed to their highest point under President Joe Biden, outpacing even the peak prices of the past four years. This steep increase in fuel costs has citizens feeling the pinch, as gasoline prices have surged by 34.2 percent and heating oil prices have skyrocketed by an astonishing 74.2 percent. These dramatic price swings are the result of geopolitical tensions, particularly the ongoing conflict between the United States and Iran, which has disrupted oil and gas trade and sent shockwaves through the global energy market.\n\nFor American voters, the rising costs of energy translate into a palpable squeeze on their wallets, with wages struggling to keep up with the relentless climb in prices. This financial strain isn't unique to the current administration; throughout history, energy market forces have often upended political agendas beyond the control of those in power, a phenomenon dubbed \"fossilflation\" by European Central Bank official Isabel Schnabel.\n\nThe volatility of energy markets has become a double-edged sword, posing a threat to both politicians and the public alike. As each new regime change brings forth a fresh set of priorities and policies, energy projects and funding suffer from the instability of political winds, causing significant disruptions to federal funding cycles. In response, experts argue that the United States needs a more stable and predictable energy framework that prioritizes performance over political preferences, ensuring a diverse and resilient energy mix that can withstand the capricious nature of fossil fuels.",
  "summary": "The results of the upcoming midterm elections will reveal just how much power global energy markets have over state-level politics – and how much changing political regimes can cost the global energy sector in return. As voters head to the polls, energy prices are blisteringly high. As of Monday, average gasoline prices in the United States officially edged higher than at any point of Joe Biden’s…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}