After the midterm elections, when could the price of gas and other goods come down?

NEW ORLEANS (WVUE) - Democrats campaigned on affordability ahead of the midterm elections. One political analyst said post-election, the party is expected to quickly deliver lowered costs.

The high cost of fuel, food and other goods was a central theme in the midterm elections that political watchers say triggered a blue tsunami of victories for Democrats.

While many Americans may hope for fast relief, economics professor Ali Bustamante said it could take months and even longer before things like gas prices could normalize, especially because they’re so closely tied to the war in Iran.

“In order for us to get below $3/gallon of gas like we were in the beginning of the year, we ultimately need a very steady and sustained traffic in the Strait of Hormuz,” said Ali Bustamante, economics professor at LSU New Orleans.

Ed Chervenak, political analyst at LSU New Orleans, said the areas where people could expect policymakers to more immediately impact are healthcare expense and wages.

“They can talk about increasing the minimum wage, which hasn’t been raised in decades. And so that’s one thing they may look at to increase people’s purchasing power,” said Chervenak.

In multiple national exit polls, voters ranked the economy among their top issues. Chervenak said Democrats campaigned on platforms centered around affordability and will have to deliver on their campaign promises quickly.

“It’s going to be difficult. Certainly they’re going to be a majority in the House and the Senate, but they’re still facing a Republican president and White House. So they got to bargain and negotiate with the president for anything they want to get passed,” Chervenak said.

“The expectation is really not for prices to go down in the short-term or even the long-term. It’s really the aim for policymakers to ultimately slow the pace of price growth over time,” said Bustamante.

In the meantime, citizens will be closely watching the price at the pump.

Christian Herring is a musician in New Orleans and is looking for any break from the inflated gas prices of this year.

“At this point, I’m kind of getting hopeless. We need something to happen,” said Herring. “I’m certainly feeling it just like everybody. Just hoping they can come down, just like anybody is.”

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