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Monday, October 26, 2026

The File

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Energy · Monday, October 26, 2026

White House says new deals will cut prices at the pump

The File desk · Oct. 26, 2026, 6:25 a.m. ET

Partially confirmed1 primary sources

Status

Partially confirmed. The White House posted the release on October 25, 2026. The deals, volumes, and price claims are the White House's account. This desk did not open a contract.
  • Confirmed
    The White House published the release on October 25, 2026.
  • Partially confirmed
    The oil volumes, the pipeline sum, and the claim that prices will fall are the White House's statements. No contract was opened.
On October 25, 2026, the White House said gas and diesel prices will fall because of deals it attributes to President Donald J. Trump. The page states the claim. This desk did not open a contract.1
President Donald J. Trump, the release says, “is utilizing the , investing millions of dollars to increase American refining capacity and produce more diesel and more gasoline.” He is “securing 65 billion barrels of oil.” Venezuelan oil coming into the U.S., it says, “has increased by over 400%.” The pipeline piece is a “$54 billion deal with Korea and Taiwan” to build a natural gas pipeline in Alaska.
Further down the same page, the deals would “release over 130 million barrels of diesel.” It says “more oil is leaving through the Hormuz Strait than before the conflict.” None of those lines is backed, on this page, by a contract.
Why it matters (Estimate). Estimate. A reader paying for gasoline or diesel is being told the price will fall because more fuel is arriving and more can be refined here. The October 25, 2026 page does not show a contract, a pump price, or the text of a waiver. What a reader has is the administration's account, not a new price.
The release says, “Korea is also investing in a natural gas facility in Texas.”
How we know

Notes

  1. 1.The White House, “President Trump Secures Major Deals to Unleash American Energy and Cut Gas Prices at the Pump,” October 25, 2026. https://www.whitehouse.gov/releases/2026/10/president-trump-secures-major-deals-to-unleash-american-energy-and-cut-gas-prices-at-the-pump/ The page opens: “Gas and diesel prices will soon drop rapidly thanks to President Donald J. Trump’s bold actions to unleash American Energy.” It says the president “is utilizing the , investing millions of dollars to increase American refining capacity and produce more diesel and more gasoline.” It says he is “securing 65 billion barrels of oil.” It says the amount of Venezuelan oil coming into the U.S. “has increased by over 400%.” It says: “The President secured a $54 billion deal with Korea and Taiwan to build the long-stalled natural gas pipeline in Alaska, which will cut Alaskans’ energy costs by $10 billion.” It says the deals would “release over 130 million barrels of diesel.” It says “more oil is leaving through the Hormuz Strait than before the conflict.” It says “Korea is also investing in a natural gas facility in Texas.” It also mentions an executive order from earlier this month, EPA fuel waivers of “thousands of barrels per day,” a waiver on shipments of gasoline, diesel, and jet fuel, and Small Refinery Exemptions. It names New York and California as states that have not adopted the EPA standards the page describes. This desk did not open a contract, a pipeline agreement, an executive-order PDF, an EPA waiver, or a Treasury license. The page does not mention diesel of Russian origin or a date in April 2027. No pump price is printed.

What is still unknown or disputed

  • Any contract or term sheet for the deals named on the page. Not linked.
  • A pump price, before or after. Not on the page.
  • The text of the waiver and of the executive order the page mentions. Not opened.
  • Whether the reference is the October 22 determination or a new order. The October 25 page does not say.

Primary sources

Every claim in this story is drawn from the documents below. If a fetch failed, that is recorded on the card.

  1. Source 1

    President Trump Secures Major Deals to Unleash American Energy and Cut Gas Prices at the Pump

    The White House · October 25, 2026

    The White House says new energy deals will cut gas and diesel prices, and it cites a $54 billion Alaska pipeline deal and 65 billion barrels of oil.

    https://www.whitehouse.gov/releases/2026/10/president-trump-secures-major-deals-to-unleash-american-energy-and-cut-gas-prices-at-the-pump/