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International Business Times UK
International Business Times UK
Rhealene Fernando

Trump Promised $2 Gas and 2% Mortgages, but Fuel Is Up 47% and Rates Hit 7.28%

Donald Trump Mortgages CBS News Petrol United States Freddie Mac Gas Prices White House
Donald Trump addresses the Economic Club of New York on 5 September 2024, when he pledged to bring petrol prices below $2 a gallon (Credit: The White House, Public domain, via Wikimedia Commons)

President Donald Trump's pledges of petrol below $2 (€1.79 and £1.51) a gallon and 2 per cent mortgages remain unfulfilled, with Americans facing higher living costs ahead of the November midterm elections.

Petrol averaged $4.37 (€3.91 and £3.30) a gallon on 9 October 2026, while Freddie Mac's latest survey put the average 30-year fixed mortgage rate at 7.40 per cent.

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