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MarketsFortuneFiled 23 h ago

Gas was pricier on this Election Day than any before it — up almost 40% to $4.15 a gallon since the Iran war began

Open the sourceReported by Fortune, fortune.com, 6 November 2026, by Michael A. Mische, The Conversation
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Gasoline prices on Election Day reached $4.15 a gallon, nearly 40% higher than before the Iran war began, marking the priciest Election Day on record. The surge echoes 1974, when Gerald Ford's "Whip Inflation Now" campaign failed to stem voter backlash and Republicans lost 48 House seats and five Senate seats. The parallel matters because energy-driven inflation has historically shaped midterm outcomes, and the current price level could weigh on incumbent candidates.

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Named in this story

Iran, Gerald Ford, Republican Party