US economic pledges on fuel and mortgage rates remain unfulfilled

Economic pledges made by Donald Trump regarding fuel and housing costs remain unfulfilled as the United States approaches the November midterm elections. Despite campaign promises of gasoline priced below $2 per gallon and 2 per cent mortgage rates, recent data shows significant increases in living expenses.

As of October 2026, gasoline averaged $4.37 per gallon, representing an approximate 47 per cent increase from February 2026. Diesel prices also remained elevated, reaching approximately $6.28 per gallon in early October. Additionally, the average 30-year fixed mortgage rate was reported at 7.40 per cent by Freddie Mac.

While some costs have fluctuated, food-at-home prices rose 4 per cent between November 2024 and October 2026. Research from the Federal Reserve Bank of New York suggests that tariffs contributed an estimated 2.9 percentage points to annual consumer goods price inflation by February 2026.