KILLER CHARTS

KILLER CHARTS

America’s price shock is at the pump

Five charts to start your da

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James Eagle
Oct 13, 2026
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CHART 1 • America’s price shock is at the pump

This is a really interesting chart because it directly relates to what we might see in the midterm elections in November this year. Since Donald Trump started his second term as president in January 2025, there has been a huge increase in the cost of petrol in the US. Costs have risen 41.2% over this period, which is a tremendous increase. This is what really stands out from this FT chart.

America’s economy relies heavily on road transportation: from long-distance haulage to average American workers commuting to work. Such a large increase in the cost of gasoline or diesel has a significant impact not just on road users, but on the wider US economy. It pushes up costs everywhere because fuel is an input to production.

Electricity’s 12.5% increase might be tolerable. And home prices rising just 0.5% could be a mixed blessing for those trying to get into the housing market. Monthly rent also looks a little high, above the rate of inflation.

But what really stands out is the cost of petrol, which could cause significant issues for the Republican Party in the run-up to the midterms.

Chart

Source: Financial Times

Paid subscribers get access to the other four charts: diesel’s refining premium, weaker US hiring, higher sovereign borrowing costs and campaign attacks on corporate landlords. Together, they show how market stress becomes a household and political argument.

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