Energy prices rise in defiance of Trump campaign promises

US gasoline and household electricity prices have risen despite President Trump’s campaign pledge to cut energy and power costs sharply. The article says the increases matter because they raise household living costs directly and can feed through into food, transport and heating bills.

Average household electricity prices in the first five months of 2026 were about 12 per cent above the equivalent period in 2024, while petrol averaged $4.11 per gallon, roughly 60 cents higher than two years earlier. The article attributes the petrol rise largely to disruption from the US-Iran war affecting major shipping routes, while analysts link electricity costs to delayed grid investment and say a 50 per cent cut within 18 months was unrealistic.