As Gas Prices Climb and Inflation Pressures Mount, Trump Prioritizes Foreign Conflict Over Tackling High Costs - Voto Latino

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As Gas Prices Climb and Inflation Pressures Mount, Trump Prioritizes Foreign Conflict Over Tackling High Costs

Washington, D.C. — As tensions escalate in the Middle East and oil prices surge, American households are left paying the price. Rising fuel costs are already driving up the price of everyday goods, leaving working families to shoulder an economic burden. In response, Voto Latino issued the following statement: 

“While Americans continue struggling to make ends meet, Trump has blatantly dismissed current rising prices as ‘a very small price to pay,’ while pouring his attention into a foreign conflict that a majority of Americans oppose. He is proving once again how out of touch he is with the economic reality people have faced over the past year under his failed economic policies.

While Trump is requesting more money from Congress for his reckless war that has already cost Americans $5 billion, Latino and working families across the country are being forced to make life-altering financial decisions just to stay afloat. Latino households are already feeling the strain of rising food costs: 62% of Latino voters have cut back on groceries, 55% carry more than $5,000 in non-mortgage debt, and 39% have skipped meals to save money.

Families are asking a simple question: why are congressional Republicans moving faster to fund foreign conflicts than to address the cost-of-living crisis right here at home?” 

Economic analysts warn that rising oil prices could lead to:

  • Gas prices spike nationwide: Crude oil surpassed $100 per barrel for the first time since 2022, pushing fuel prices higher across the United States. The national average for gasoline has climbed to approximately $3.54 per gallon.
  • In the three states home to the largest Latino populations, gas prices have already surged:
    • California: Gas prices have increased by about 58 cents, reaching approximately $5.26 per gallon.
    • Florida: Gas prices have increased by 57 cents, reaching approximately $3.64 per gallon.
    • Texas: Gas prices have increased by about 44 cents, reaching approximately $3.23 per gallon.
  • Food insecurity may worsen across the country: As the conflict in Iran drives up fertilizer prices, U.S. farmers could face higher production costs and potential supply shocks. Rising diesel costs are also increasing shipping expenses, which could drive up the price of groceries and other consumer goods. With nearly 14 million Latinos facing food insecurity, rising food prices could deepen existing disparities. 
  • Electricity costs set to increase: Rising oil prices and shipping disruptions threaten to drive up energy costs across the global economy. In 2024, Hispanic households faced an energy burden 24% higher than the national average, meaning they spend a larger share of their income on utilities than other Americans.
  • Inflation risks could grow: Inflation currently stands at 2.4%, but economists warn that sustained increases in energy prices could push it higher. Many Latino households are already feeling the strain, with 48% of Latino voters reporting that no matter how hard they work, they feel unable to get ahead in today’s economy.
  • Air travel may become more expensive: Higher jet fuel prices could lead to more expensive airline tickets for American travelers.

One thing is clear: President Trump ran on promises to “end inflation,” deliver an economic boom, and the idea of “no new wars”. What we’re seeing right now is far from that. Right now, 62% of American voters disapprove of Trump’s handling of inflation and the cost of living. 

Voto Latino will continue informing Latino communities about the real impact of this administration’s economic policies so voters have the information they need to make informed decisions at the ballot box. Latino voters are paying attention, and they will remember come November.

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Voto Latino is a civic advocacy organization dedicated to educating and empowering the next generation of Latino voters while working to build a more inclusive and representative democracy. Since its founding, Voto Latino has registered two million voters. In 2024, the organization took legal action to protect voting rights, filing multiple lawsuits in Texas, Arizona, and North Carolina to safeguard access to the ballot ahead of the elections.