Falling gas prices could boost Trump approval ratings as Memorial Day arrives
As Americans prepare to hit the road for the Memorial Day holiday weekend, they are greeted with good news at the gas pumps. Despite a rise in gas prices of roughly 20 cents per gallon since President Donald Trump returned to the White House in January, all 50 states are experiencing lower prices compared to last Memorial Day, according to GasBuddy, a fuel savings platform. Gas prices are currently at their lowest seasonal level since 2021, providing a welcome relief for travelers.
The U.S. Energy Information Administration (EIA) reports that when adjusted for inflation, the average U.S. retail gasoline prices going into Memorial Day weekend are 14% lower than last year, largely due to falling crude oil prices. As of Friday, the national average for regular gasoline stood at $3.20 per gallon, offering some financial relief for consumers.
While gas prices typically increase during the spring and summer months due to higher demand for summer travel and the switch to more expensive summer gasoline blends, GasBuddy expects prices to ease slightly over the next few months leading up to Labor Day.
The decrease in gas prices could have political implications for President Trump and Republicans as they gear up for the midterm elections next year. The White House has highlighted the recent drop in gas prices as a positive indicator of the president’s economic policies. Despite facing slightly negative approval ratings, the current prices at the pump could boost Trump’s image among voters concerned about the economy.
Republican strategist Jesse Hunt sees the drop in gas prices as a testament to the administration’s energy policy, which could result in more money staying in people’s pockets. However, politics professor Daron Shaw cautions that while gas prices have decreased, other essential items like groceries have remained expensive, leading to continued financial strain for many Americans.
As the administration pushes for a tax and spending cuts package to stimulate economic growth, there is hope that these measures will provide relief to struggling families. With a focus on easing the financial burden on everyday expenses, Republicans are optimistic that their policies will lead to increased investment and overall economic growth.
Overall, the decrease in gas prices ahead of the Memorial Day weekend is welcome news for travelers and could have positive implications for the political landscape as the country heads into the midterm elections. With an eye on continued economic improvements, Americans are hopeful for a brighter financial future.
