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Politics

One unexpected price surge most Americans don’t see is raising the stakes for Trump before November

Fox News Politics ·
One unexpected price surge most Americans don’t see is raising the stakes for Trump before November

The fuel most Americans rarely think about is becoming a new hurdle for President Donald Trump ’s push to make housing more affordable, as the Iran war raises costs for construction sites.

With the midterm elections approaching, the diesel surge underscores the political tension facing Trump and congressional Republicans as they promise to bring down housing costs while war-driven energy prices add new pressure to home construction.

Builders are already wrestling with expensive financing, labor, materials and costs tied to regulations and permitting that Republicans have pledged to reduce.

Because diesel powers the trucks and heavy equipment used throughout the construction process, higher prices can make it harder to deliver the lower-priced homes needed to ease America’s affordability crunch.

AMERICA'S HOUSING MARKET COULD RUN OUT OF SOMETHING MORE IMPORTANT THAN HOMES Jim Tobin, president and CEO of the National Association of Home Builders (NAHB), told Fox News Digital that diesel is "critical to construction." "Diesel, which our workers use when they're hauling materials on trucks and moving dirt on sites, has seen a spike, and that has really put a little bit of pressure on home building in the short term here." Unlike gasoline, which is felt most directly by motorists, diesel powers the trucks hauling lumber, concrete, appliances and other supplies to construction sites, as well as the heavy equipment that prepares lots and builds new homes.

The national average price of on-highway diesel climbed to $5.65 a gallon this week, up nearly $2.00 from a year ago, according to data compiled by the Energy Information Administration.

Diesel's year-over-year increase has been far sharper than gasoline’s, with the national average for regular gas at about $4.09 a gallon.

The added pressure comes as Trump has made housing affordability a key part of his second-term agenda.

In March, he signed an executive order directing federal agencies to reduce regulatory barriers that raise construction and homeownership costs, with an emphasis on speeding permitting and expanding supply.

THE SURPRISING HIDDEN COST QUIETLY ADDING NEARLY $132K TO NEW HOME PRICES REVEALED But even as the administration targets regulatory costs, builders say other expenses can quickly offset those savings.

Tobin said the industry has so far seen only a modest impact from tariffs on construction inputs.

But he has begun hearing from manufacturers announcing price increases, particularly those tied to steel and aluminum costs.

Diesel adds another layer of pressure by raising the cost of both getting materials to a job site and completing the work once they arrive.

Read the full article on Fox News Politics ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.foxnews.com — the content belongs to Fox News Politics.

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