Fact-checking Trump’s claims
Energy costs: Trump claimed that electricity costs had surged 30 to 100 percent under the Joe Biden administration, resulting in a loss of $5000 to $10,000 in higher energy costs for the typical American family. The President added that on his first day of the second term, he’d declared a National Energy Emergency. Gasoline is now under $2.50 a gallon in much of the country, Trump noted, and added that in some states it was $1.99 a gallon.
He added that within the next 12 months his government planned to open 1,600 new electrical generating points. Touting it as a spectacular record, Trump noted that this would not be broken by anyone, at least not soon.
Trump’s claim of energy costs rising 30 percent is true. It rose 25 to 30 percent during the Biden government. However, two research studies have shown that the average cost to American households was lower than what the President claimed. The Century Foundation found that from March 2022 to June 2025, average monthly energy bills rose from $196 to $265.
Fuel costs: Trump also claimed that gasoline was now under $2.50 a gallon in much of the country and “hit $1.99 a gallon” in many states. Nationally, gas prices averaged $2.90 per gallon in the week ending Dec. 15, as per the Energy Information Administration, a government statistical agency. Estimates from nongovernment trackers, like GasBuddy and AAA, were also similar. No state average was below $1.99, according to AAA.
Drug prices: Trump again asserted that he cut drug prices by 400, 500 or even 600 percent. But a 100 percent price cut would mean a cost of $0.
Grocery prices: Trump, during the speech said “Democrat politicians also sent the cost of groceries soaring. But we are solving that too. The price of a Thanksgiving turkey was down 33% compared to … last year. The price of eggs is down 82% since March.” This claim is only partially true. Grocery costs have gone up significantly over the past five years — they were up 30% since January 2020, as per a CBS News analysis of Bureau of Labor Statistics data.
However, wholesale turkey prices are up about 40% from last year, to $1.34 per pound, as per the American Farm Bureau. Egg prices are also down substantially since March — 43% — but not 82%, BLS data showed.
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