Little Relief Expected for Gas Prices Ahead of Election Day, According to Prediction Markets
Gas prices are expected to remain above $4 per gallon on Nov. 3, according to traders on prediction market platform Kalshi.
TL;DR
- Gas prices are expected to remain above $4 per gallon on Election Day (Nov. 3).
- Diesel prices are also predicted to stay above $6 per gallon on Election Day.
- Elevated gas prices are a top concern for voters in the midterm elections.
- The Iran war and the closure of the Strait of Hormuz contributed to initial gas price spikes.
- Rising diesel prices particularly affect states with large agriculture industries and those relying on diesel for electricity.
- Democrats' chances of flipping the Senate have improved as gas prices have remained elevated.