Gasoline Up 34% and Heating Oil Up 74% as Voters Head to the Midterms

The results of the upcoming midterm elections will reveal just how much power global energy markets have over state-level politics and how much changing political regimes can cost the global energy sector in return. As voters head to the polls, energy prices are blisteringly high. As of Monday, average gasoline prices in the United States officially edged higher than at any point of Joe Biden's presidential term, according to a Politico analysis of AAA figures.

This could pose a major threat to the Trump administration as well as incumbent gubernatorial and congressional candidates, as trust erodes between current leaders and their cash-strapped constituents. 7 percent over the last 12 months, exacerbated by massive increases in energy costs.