President Trump, during his campaign, pledged to reduce Americans' energy bills by 50%, encompassing cheaper gasoline and electricity. He also committed to increasing American energy production, using the phrase "Drill, baby, drill." One year after these promises were made, the outcomes show a mixed picture.
Gasoline Prices
Gasoline prices have decreased by approximately 20% nationwide compared to a year prior. While crude oil prices, determined by a global marketplace and influenced by factors like OPEC+ decisions leading to an oversupply, are the primary driver, analyst Dan Pickering attributes partial credit to President Trump's pressure on OPEC to lower global crude prices. Future efforts to increase oil production from Venezuela could further contribute to lower global crude prices. GasBuddy analysts reported that U.S. households spent an average of $177 less on gasoline in 2025 than in 2024, with projections for an additional collective saving of $11 billion in 2026.
Oil Production and Drilling
Contrary to the "Drill, baby, drill" slogan, the number of active drilling rigs in the U.S. has declined by over 6% year-over-year. This reduction is attributed to low oil prices (under $60 a barrel) making new well drilling unprofitable, despite the administration's efforts to facilitate new projects, including opening more federal lands and waters for leases. Secretary of Energy Chris Wright stated that President Trump has not been a helper to the oil and gas industry due to driving down oil prices.
However, the American Petroleum Institute (API) indicated that most of its policy priorities for the industry, such as tax policy changes, increased access to drilling in the Gulf, boosted liquefied natural gas exports, repeal of car efficiency requirements, and elimination of a methane fee, were completed in 2025, excluding legislative permitting reform. These policy changes are projected to support higher oil demand and lower production costs long-term, partly by slowing the transition to electric vehicles and easing environmental regulations.
Electricity Costs
Electricity prices have continued to rise, with analyst Helen Kou from BloombergNEF noting increases across most states and markets in 2025. Wholesale power prices saw significant increases, exceeding 60% in New York and New England and 45% in the mid-Atlantic. Charles Hua of Powerlines stated that over 80 million Americans are struggling with utility bills.
Factors contributing to rising costs include an aging power grid, the expense of natural disasters, and increased fuel costs, particularly natural gas. Natural gas prices increased by over 50% from last year's annual average, partly due to increased U.S. exports. The administration's electricity policy has not focused on reducing natural gas costs, improving the grid, or mitigating natural disaster impacts. Instead, it has concentrated on reversing previous climate policies, such as mandating that coal-powered plants remain operational, which typically have higher operating costs.
Investments in nuclear power are also underway, but their impact on costs would be long-term due to the extensive approval and construction timelines. Some administrative actions may lead to increased future electricity bills. These actions include ending federal tax credits for solar and wind projects prematurely, canceling over $13 billion in green energy funding, and opposing new wind projects, which has led to legal challenges and discouraged investment. James Coleman of the American Enterprise Institute suggests that removing barriers to new energy investment helps reduce prices, while increasing uncertainty or barriers tends to increase them. The administration is also rolling back efficiency standards for appliances, which typically reduce consumer bills by lowering energy consumption.
Technologies that could provide immediate relief by improving power movement on the existing grid or matching supply and demand more effectively have not been a central focus. President Trump has recently discussed requiring AI data centers to pay a fair share for electricity, which could potentially impact energy bills for general consumers. As of the current assessment, the administration's pledge to reduce utility bills remains unfulfilled.