On May 2, U.S. President Donald Trump shared erroneous figures about his country’s economic situation on his social media platform, Truth Social. The president claimed that gas and food prices had dropped, but this claim is false.
“Gasoline just broke $1.98 a gallon, lowest in years, groceries (and eggs!) down, mortgage rates down (…) Just like I said, we are in a TRANSITION STAGE, just getting started! Consumers have been waiting for lower prices for years. NO INFLATION,” reads Trump’s post on Truth Social.
However, gasoline currently costs an average of $3.133, a figure 58% higher than what the U.S. president stated. At the same time, grocery prices have increased by 3% over the past 12 months.
It is false that gasoline is $1.98 per gallon, as Trump claimed
Donald Trump claimed that gasoline prices had dropped under his administration and are now at $1.98 per gallon, the “lowest price in years,” a claim that is false.
According to the U.S. Energy Information Administration or EIA, an agency of the U.S. Department of Energy, as of April 28, 2025, the average price of a gallon of gasoline was $3.133.
The cheapest gasoline documented by the EIA was found in Texas at an average of $2.664 per gallon, while the most expensive was in California at $4.614 per gallon.
It is important to highlight that although there is a 7.84% decrease in hydrocarbon prices when comparing the 15 weeks that have elapsed since January 20 (Donald Trump’s inauguration) and April 28, 2025 (last measurement) with the similar period in 2024, the lowest average price of gasoline in 2025 is $2.943 per gallon and was recorded on March 17, 2025.
There is no record that at any point during President Donald Trump’s second term, gasoline cost less than two dollars a gallon.
In fact, the only time the price of gasoline was less than two dollars per gallon in the last five years was during the period from March 30 to June 8, 2020, during the COVID-19 pandemic.
The claim that egg and food prices have dropped is misleading
After Americans reported egg shortages and rising egg prices between December 2024 and February 2025, the Trump administration spread misinformation about the issue, claiming that the Biden administration ordered “the mass slaughter of more than 100 million hens,” which was causing the overpricing.
But Donald Trump failed to contextualize the fact that 100 million chickens died from illness or were euthanized due to a bird flu outbreak in 2022 as a measure to prevent the virus from spreading.
On February 28, 2025, the price of eggs peaked at $8.07 per dozen; however, as of May 2, 2025, the price was $3.29 per package.
If we compare the price in May 2025 with the same period in 2024, the price of a dozen eggs more than doubles. On May 3, 2024, the cost was $1.13, so while eggs are cheaper today than during the peak of the shortage crisis, their price is still higher than it was a year ago.
As for other groceries, the Bureau of Labor Statistics reports that the Consumer Price Index (CPI) rose 3% over the past 12 months.
Specifically, there were increases of 7.9% for meat products, 2.4% for alcoholic and non-alcoholic beverages, and 2.2% for dairy products. The only category that saw a decrease in the CPI was fruit, with a 0.7% decrease.
U.S. GDP falls by 0.3% in Q1 of 2025 and inflation could rise
The U.S. Bureau of Economic Analysis (BEA) reports that the country’s Gross Domestic Product (GDP) declined by 0.3% in the first quarter 2025 compared to the immediately preceding period (fourth quarter of 2024).
The decline in GDP reflects an increase in imports and a decrease in federal government spending, partially offset by increased state and local government spending.
Regarding inflation, the Bureau of Labor Statistics’ Inflation Calculator indicates that inflation was 2% between January and March 2025 (the latest period available). However, economists say Donald Trump’s proposed tariffs would likely be passed on to consumers through higher prices.