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A man pumps gas at a Texaco gas station on July 10, 2026 in Austin, Texas.
(Photo by Brandon Bell/Getty Images)
As Gas Prices Surge Back to $4 a Gallon, Poll Shows Americans Blame Trump for Worsening Economy
Forty-seven percent of Americans surveyed say they have been cutting back on food and medical care to save money.
Jul 17, 2026
As the resumption of President Donald Trump's illegal war with Iran sends gas prices back to an average of $4 per gallon, a poll released by CNBC on Friday shows Americans' perceptions of the US economy growing increasingly negative.
The latest CNBC All-America Economic Survey finds that 61% of Americans are feeling pessimistic about the current state of the economy, with just 25% saying they feel optimistic.
This marks the most pessimistic Americans have felt about the economy since December 2023, after the US suffered through an inflationary shock primarily driven by the re-opening of the global economy after the Covid-19 pandemic.
Americans' biggest concerns are with the cost of living, with voters expressing particular worry about gas and grocery prices.
Forty-seven percent of Americans surveyed say they have been cutting back on food and medical care to save money, while two-thirds report reducing spending on "non-essential" purchases, such as restaurant meals and entertainment.
The survey also finds that US voters are pinning the blame for the state of the economy squarely on Trump, as just 38% of Americans approve of his economic performance while 60% disapprove. Americans are even harsher in their assessment of Trump's handling of the Iran war, with just 35% approving and 63% disapproving.
Democratic pollster Jay Campbell, a partner at Hart Research, told CNBC that the recent drop in gas prices from their peak earlier this year is not enough to put Americans in a better mood, especially given that prices are headed up again.
"People are still paying a lot more for stuff than they were a year and a half ago, two years ago, and that’s recent enough in memory that it still hurts and it still drives a lot of anger," said Campbell. “When gas prices drop 50 cents for a month, that’s just not enough to make up the difference."
According to data published by AAA on Friday, the average price of gas in the US is now $3.98 per gallon, 10 cents higher than it was a week before.
The price of diesel fuel has also risen back over $5 per gallon, up 15 cents from one week ago, according to AAA.
Despite Trump's brutal polling numbers, the CNBC survey finds that Democrats currently have a modest four-point advantage in the generic congressional ballot, which Campbell said "doesn’t point to a wave [election] at the moment."
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As the resumption of President Donald Trump's illegal war with Iran sends gas prices back to an average of $4 per gallon, a poll released by CNBC on Friday shows Americans' perceptions of the US economy growing increasingly negative.
The latest CNBC All-America Economic Survey finds that 61% of Americans are feeling pessimistic about the current state of the economy, with just 25% saying they feel optimistic.
This marks the most pessimistic Americans have felt about the economy since December 2023, after the US suffered through an inflationary shock primarily driven by the re-opening of the global economy after the Covid-19 pandemic.
Americans' biggest concerns are with the cost of living, with voters expressing particular worry about gas and grocery prices.
Forty-seven percent of Americans surveyed say they have been cutting back on food and medical care to save money, while two-thirds report reducing spending on "non-essential" purchases, such as restaurant meals and entertainment.
The survey also finds that US voters are pinning the blame for the state of the economy squarely on Trump, as just 38% of Americans approve of his economic performance while 60% disapprove. Americans are even harsher in their assessment of Trump's handling of the Iran war, with just 35% approving and 63% disapproving.
Democratic pollster Jay Campbell, a partner at Hart Research, told CNBC that the recent drop in gas prices from their peak earlier this year is not enough to put Americans in a better mood, especially given that prices are headed up again.
"People are still paying a lot more for stuff than they were a year and a half ago, two years ago, and that’s recent enough in memory that it still hurts and it still drives a lot of anger," said Campbell. “When gas prices drop 50 cents for a month, that’s just not enough to make up the difference."
According to data published by AAA on Friday, the average price of gas in the US is now $3.98 per gallon, 10 cents higher than it was a week before.
The price of diesel fuel has also risen back over $5 per gallon, up 15 cents from one week ago, according to AAA.
Despite Trump's brutal polling numbers, the CNBC survey finds that Democrats currently have a modest four-point advantage in the generic congressional ballot, which Campbell said "doesn’t point to a wave [election] at the moment."
From Your Site Articles
- Nearly Half of Americans Say Their Financial Security Is Getting Worse Under Trump ›
- New Polling Shows That the Bottom Has Fallen Out for Trump’s Economic Job Performance ›
- Report Shows 'Financial Insecurity Is Widespread and Runs Deep' in Trump Economy ›
Related Articles Around the Web
As the resumption of President Donald Trump's illegal war with Iran sends gas prices back to an average of $4 per gallon, a poll released by CNBC on Friday shows Americans' perceptions of the US economy growing increasingly negative.
The latest CNBC All-America Economic Survey finds that 61% of Americans are feeling pessimistic about the current state of the economy, with just 25% saying they feel optimistic.
This marks the most pessimistic Americans have felt about the economy since December 2023, after the US suffered through an inflationary shock primarily driven by the re-opening of the global economy after the Covid-19 pandemic.
Americans' biggest concerns are with the cost of living, with voters expressing particular worry about gas and grocery prices.
Forty-seven percent of Americans surveyed say they have been cutting back on food and medical care to save money, while two-thirds report reducing spending on "non-essential" purchases, such as restaurant meals and entertainment.
The survey also finds that US voters are pinning the blame for the state of the economy squarely on Trump, as just 38% of Americans approve of his economic performance while 60% disapprove. Americans are even harsher in their assessment of Trump's handling of the Iran war, with just 35% approving and 63% disapproving.
Democratic pollster Jay Campbell, a partner at Hart Research, told CNBC that the recent drop in gas prices from their peak earlier this year is not enough to put Americans in a better mood, especially given that prices are headed up again.
"People are still paying a lot more for stuff than they were a year and a half ago, two years ago, and that’s recent enough in memory that it still hurts and it still drives a lot of anger," said Campbell. “When gas prices drop 50 cents for a month, that’s just not enough to make up the difference."
According to data published by AAA on Friday, the average price of gas in the US is now $3.98 per gallon, 10 cents higher than it was a week before.
The price of diesel fuel has also risen back over $5 per gallon, up 15 cents from one week ago, according to AAA.
Despite Trump's brutal polling numbers, the CNBC survey finds that Democrats currently have a modest four-point advantage in the generic congressional ballot, which Campbell said "doesn’t point to a wave [election] at the moment."
From Your Site Articles
- Nearly Half of Americans Say Their Financial Security Is Getting Worse Under Trump ›
- New Polling Shows That the Bottom Has Fallen Out for Trump’s Economic Job Performance ›
- Report Shows 'Financial Insecurity Is Widespread and Runs Deep' in Trump Economy ›
Related Articles Around the Web
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