WANA (Apr 23) – Rising energy prices following the crisis in the Strait of Hormuz have pushed consumer inflation in the United States to its highest level in four years, driving Donald Trump’s economic approval rating down to 30%.

 

A new joint poll by Associated Press and NORC indicates growing public dissatisfaction with the administration’s financial policies, as economic pressures intensify alongside the ongoing conflict with Iran.

 

According to the survey, Trump’s economic approval rating fell to 30% this month, marking a drop of 8 percentage points compared to March and 9 points compared to February. This surpasses his previous low of 31% recorded in December, setting a new record low. Economic performance had been a central pillar of his 2024 campaign.

 

Overall approval ratings have also declined, with only 33% of respondents approving of the president’s performance, down from 38% the previous month.

 

The data comes as the U.S. conflict with Iran enters its 53rd day. Iran’s control over the Strait of Hormuz—a vital global oil transit route—has put significant pressure on supply, contributing to a sharp increase in fuel prices.

 

According to The Hill, average gasoline prices in the U.S. rose during the conflict, exceeding $4 per gallon by the end of March. U.S. trade officials have warned that if high fuel prices persist, they could have long-term impacts on the country’s economy.

 

The report also notes that consumer prices in March saw their fastest rise in approximately four years, driven almost entirely by increased energy costs.

 

The outlet adds that purchasing power is expected to play a decisive role in upcoming U.S. elections. Last year, concerns over rising living costs contributed to Republican losses in several key races in New Jersey, Virginia, and Georgia.