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2026-09-21 19:22:10
[Trump Claims Oil Prices Were Higher During Biden's Tenure; Data Shows Differences Over Time] ⑴ Trump stated on social media that gasoline prices in the US would be far higher during Biden's term, and the prices of most consumer goods would also be higher, predicting that oil prices would fall after the Iran conflict ends. ⑵ Data shows that oil prices fluctuated significantly during Biden's term, reaching a historical high for the average gasoline price across the US in 2022, driven by multiple factors including the Russia-Ukraine conflict, low inventory levels, and insufficient refining capacity. ⑶ Oil prices gradually declined in the second half of 2022, with year-end prices significantly lower than the peak; US gasoline prices rose again in 2026, but did not surpass the historical high of that year. ⑷ The current rise in oil prices is mainly influenced by the Middle East geopolitical situation. Comparing oil prices during the two terms, it is not appropriate to simply judge the overall level based on a single point in time.
