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Rising gas prices hitting US household finances and more pain is expected, Reuters/Ipsos poll finds
A Reuters/Ipsos poll shows 55% of U.S. households report financial strain from rising gas prices linked to conflict-driven oil supply disruptions.
- A Reuters/Ipsos poll found that 55% of Americans report their household finances have suffered from rising gas prices, with 87% anticipating further increases over the coming month.
- Gasoline prices in America have surged nearly a dollar per gallon since February 28, when the U.S. and Israel attacked Iran, prompting Iranian counterstrikes and Iran's effective closure of the Strait of Hormuz, which carries one-fifth of global oil supply.
- President Donald Trump on Thursday appeared to acknowledge his role in surging costs, saying, "I hate to make this excursion, but we're going to have to do it," while his approval rating on cost-of-living issues has dropped to 29%.
- The surge could damage Republicans' chances of defending slim congressional majorities in this year's midterm elections, as respondents identified the cost of living as the top issue influencing their November vote.
- Disapproval of Trump's handling of the cost of living has risen to 63% from 41% shortly after he returned to the White House, while only 35% of respondents believe he is doing a good job on the economy.
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Coverage Details
Total News Sources4
Leaning Left0Leaning Right1Center3Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
C 75%
R 25%
Factuality
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