Trump To Be Blamed For Higher Gasoline Prices, 48% Americans Reportedly Say

16% pointed at oil and gas companies, 13% blamed global market forces and 11% cited former President Biden for gasoline price rise.

• 74% of Americans say gas prices have increased this year, per flash polling conducted Wednesday night by Morning Consult and shared with Axios.
• “President Trump has been clear that these are short-term disruptions,” White House spokeswoman told Axios. 

About 48% of Americans are reportedly blaming U.S. President Donald Trump regarding the rise in gas prices. 

74% of Americans say gas prices have increased this year, per flash polling conducted Wednesday night by Morning Consult and shared with Axios.

On being asked who is most responsible for current gas prices, 48% said Donald Trump and his administration. That was followed by 16% who pointed at oil and gas companies, 13% who blamed global market forces and 11% who cited former President Biden.

Administration Response

According to an Axios report, Morning Consult surveyed 1,002 U.S. adults online, and weighted the data to reflect demographics. There's a margin of error of ±3 percentage points.

"President Trump has been clear that these are short-term disruptions. Ultimately, once the military objectives are completed and the Iranian terrorist regime is neutralized, oil and gas prices will drop rapidly again, potentially even lower than before the strikes begin," White House spokeswoman Taylor Rogers told Axios in an email, the report said. 

Higher Gas Prices

Oil and gasoline prices have been rising ever since the U.S. and Israel attacked Iran late last month. The woes have worsened around oil ever since Iran blocked the critical shipping route of Strait of Hormuz through which around 20% of global oil supply goes through. 

On Wednesday, the International Energy Agency announced that all its 32 member countries had unanimously agreed to release 400 million barrels of oil from their emergency reserves to help address disruptions in oil markets caused by the war in the Middle East.

U.S. equities continued their downturn on Wednesday. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down 1.3%, the Invesco QQQ Trust ETF (QQQ) dived 1.37%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) slumped 1.2% 

The United States Oil Fund (USO), which tracks the daily price movements of West Texas Intermediate (WTI) light, sweet crude oil, was up 9.6%.