Rising gasoline prices are already hitting American pocketbooks, and most people expect costs to climb higher because of the U.S. conflict with Iran, according to a new poll.
The Reuters/Ipsos poll found that 55% of respondents said their household finances had been impacted by the increases, with 21% reporting the impact was “a great deal.”
87% consider it likely that gas prices will rise further over the coming month.
The average price of gasoline in the U.S. has jumped nearly a dollar per gallon since February 28, when the United States and Israel attacked Iran. Iranian counterstrikes on energy installations of U.S. allies and Tehran’s effective closure of the Strait of Hormuz — which carries one-fifth of global oil supplies — have tightened the market.
In North Texas, prices are nearing $4 per gallon. Fuel costs in Texas rose 32 cents over the past week to $3.58 per gallon, according to AAA, while the national average stands at $3.88 per gallon, up 29 cents.
AAA predicts prices will reach $4 next week after three straight weeks of increases.
Marques Lester summed up the frustration simply: “Horrible.”
“We’re just gonna do one word on that. It doesn’t make sense. How are we almost at $4.00, dude?” he said, CBS News Texas reported.
Lester said filling his truck used to cost $58 to $62 before the conflict with Iran began. Now it runs $85.
“It’s not like they increased the gas and gave us a raise at work. You know what I mean, we’re still working off the money they gave us last week,” Lester said.
Keegan Jeffrey and his wife are feeling the pinch on bills.
“Having to pay bills and everything else, and now dealing with gas prices. It’s taking a toll on our pocket,” Jeffrey said, per CBS. “And it’s kind of hard getting back and forth from work, you know, with the gas prices, to be honest with you.”
Raphael Johnson, a full-time post office employee, worries the commute could become unaffordable.
“Full-time employee at the post office, and we really gotta start doing better with the prices, because I don’t know if I can afford to be able to go to work,” Johnson said, per CBS. “I’m serious. It’s getting outrageous. I mean, more than the cost of living that we’re earning.”
Deja Martinez has begun rethinking routine errands.“Do I really need to go here? Do I really need this? Can I really afford a trip here or a stop or two here?” she said, according to CBS.
Alberto Hernandez, who owns a Dallas countertop business, told CBS that he fills his work trucks every two days for $120.
“What can we do? We’ve just got to work harder and pay what we’ve got to pay,” he said.
Josephine Tedrowe returned from overseas travel to discover that her usual $45 fill-up now costs nearly $70.
“But I’m trying to be patient with everything. I’m sure—you know—good things will come out after all this,” she said, per CBS.
President Donald Trump returned to office promising to tame inflation and spark an economic boom. On Thursday, he appeared to acknowledge the role of the Iran conflict in the price surge.
“The economy was great … We everything greathing. And I saw what was happening in Iran and I said, ‘I hate to make this excursion, but we’re going to have to do it,’” Trump said, Reuters reported.
Trump’s approval rating on handling the cost of living stands at 29%, down from 35% shortly after he took office, while disapproval has climbed to 63% from 41%. Only 35% of those polled said Trump is doing a good job on the U.S. economy overall.
The Reuters/Ipsos poll, conducted online Tuesday through Thursday among 1,545 U.S. adults, has a margin of error of about 3 percentage points.
Respondents ranked the cost of living as the top issue that will influence their vote in November’s midterm elections.
