American households are reporting immediate financial strain as gasoline prices surge following the escalation of military conflict between the United States and Iran, according to a new national poll. The Reuters/Ipsos survey, conducted this week, found that 55% of respondents say their household finances have already been impacted by the spike at the pump, with 21% of those affected reporting the hit is substantial.
The price surge is directly tied to geopolitical turmoil. Since the U.S. and Israel launched attacks on Iran on February 28, the average price of gasoline in America has jumped by nearly one dollar per gallon. The conflict triggered Iranian counterstrikes on energy infrastructure of U.S. allies and led Iran to effectively close the Strait of Hormuz, a critical maritime chokepoint through which roughly one-fifth of the world’s oil supply flows.
The economic fallout is prompting drastic contingency planning within the Trump administration. Officials have reportedly considered deploying thousands of additional U.S. troops to secure the strait and ensure safe passage for oil tankers, a move some warn could necessitate putting American forces on Iranian soil. The public, however, is largely pessimistic and apprehensive. An overwhelming 87% of Americans believe it is likely gas prices will continue to climb over the next month.
President Donald Trump, who returned to office last year vowing to tame inflation and supercharge the economy, now faces mounting public disapproval over the cost of living. The poll shows 63% of Americans disapprove of his handling of this issue, a sharp increase from 41% shortly after his inauguration. His approval rating on the economy sits at just 35%. In a notable shift, Trump appeared to acknowledge his role in the rising costs during remarks on Thursday, stating he “hate[d] to make this excursion” into conflict but felt it was necessary.
The political implications are significant. With the midterm elections approaching, respondents identified the cost of living as the top issue influencing their vote. The surge in gas prices and broader economic anxiety threaten Republican chances of defending their slim majorities in Congress. Most Americans also expect the U.S. will deploy troops for large-scale ground operations in Iran, though the poll indicates scant public support for such an escalation.
The financial pinch from energy costs adds to existing economic pressures. Since retaking office, Trump has enacted steep tariffs that have increased prices for consumer goods, contributing to his persistent vulnerability on cost-of-living issues. The online survey gathered responses from 1,545 U.S. adults and has a margin of error of approximately three percentage points. As the situation in the Middle East remains volatile, American wallets are feeling the direct consequences of distant conflict.