An expert told FOX Business ahead of the midterms that "traditionally, high gas prices going into an election has a negative impact on the incumbent party."

Wall Street Breakfast roundup: fuel-price relief moves, SPR crude loans, Boeing’s $20B Navy contract, PCE inflation preview & market levels—read now.

November Nymex natural gas (NGX26 ) on Tuesday closed down -0.095 (-3.06%). Nat-gas prices settled sharply lower on Tuesday for a second day after gas production returned to near normal after repairs were made to a ruptured gas pipeline in West Virginia,

California and Georgia take steps to lower costs for drivers as AAA expects September gas prices to set a record.

Elected officials in Ohio, Georgia, California and Texas have all moved to cut costs this week as wars keep oil high.

November WTI crude oil (CLX26 ) is up +2.41 (+2.70%) today, and November RBOB gasoline (RBX26 ) is up +0.1321 (+4.22%). Crude oil and gasoline prices are moving sharply higher today after Russia extended its diesel export ban,

Meredith Whitney said there are signs that even high earners are starting to pull back on spending due to higher gas prices.

Both oil companies and market analysts say a diesel export ban could have unintended consequences.

California will begin the switch to cheaper, winter-blend gasoline. As of Monday, gas prices in California averaged $6.37 per gallon.

This is the danger for the Federal Reserve and the nation. This is what can truly shift spending habits and lifestyles,” said economist Heather Long.