Fact-check · Oct 14, 2026 · Donald Trump
“Oil is less now under Trump with us taking away the nuclear chance of them destroying, frankly, the world, than it was under Biden. Oil was higher under Biden than it is under Trump”
MISLEADING
What the record shows
Oil closed below $80/barrel on both Jan 17, 2025 (Biden's last day) and Jan 20, 2025 (Trump's inauguration). Biden-term average: $79/barrel. Trump's current-term average through October 2026: higher due to Iran war, with crude above $91/barrel as of mid-October.
Claim compares current prices to Biden's peak (2022, $120) not his average or end-of-term. Oil was same price when Trump took office as when Biden left. War with Iran has since driven prices higher.
Sources
- Trump says gas prices were higher under Biden. Here's what the data shows - Newsweek
- Fact check: Trump posts wildly deceptive chart on oil prices
- Trump says gas prices were higher under Biden. Here's what the data shows
- Fact check: Breaking down Trump’s rosy comparison to gas prices under Biden
- Oil Prices Swing Less on Trump’s Iran Comments as Traders Focus on Supply
- Oil little changed as Trump comments on Iran talks ease supply concerns
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