U.S. consumers are facing growing economic pressure as beer sales reportedly slow sharply, reflecting reduced discretionary spending amid rising living costs. At the same time, gasoline prices have surged significantly since the Iran conflict, with reports indicating a jump of over 50%, driven by global oil supply disruptions and higher energy costs.


US Beer Sales Sees Sharp Slowdown | US Gas Prices Jump 52% Since Iran War 

President Donald Trump said on Monday that he intends to suspend the federal gas tax “for a period of time” and phase it back in “when gas goes down.” The president made the comments in a phone interview with CBS News. Suspending the excise taxes—18.4 cents per gallon on gas and 24.4 cents a gallon on diesel—requires an act of Congress.&nbsp;&nbsp;However, Congress has so far shown little interest in suspending it to bring down costs. Gas prices have soared over 50% since the start of the Iran war on Feb. 28, hitting a high of over $4.52 on Sunday, according to AAA.&nbsp;&nbsp;“And yep, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in,” Trump said.“But no, we’re gonna, we’ll, we’ll be doing something on that. Yes.”&nbsp;Also Read: <a href="https://www.wionews.com/world/pak-army-chief-says-last-year-s-conflict-with-india-was-battle-of-two-ideologies-claims-strategy-superioirity-1778443217032">Pak Army chief says last year’s conflict with India was ‘battle of two ideologies’, claims strategy superiority</a>&nbsp;Analysts say the prices are likely to remain high with Iran blocking access to the Strait of Hormuz.&nbsp;&nbsp;Referring to Iran’s latest response to the US peace proposal, President Trump said it made concessions on its nuclear programme, but “not enough”, and called it a “very stupid proposal.”&nbsp;Responding to a query on Israeli Prime Minister Benjamin Netanyahu’s comment that “nobody had perfect foresight” on the Strait of Hormuz, Trump said, “I did. I knew they closed it. That’s the only weapon they have.”&nbsp;He said the US military could have opened the Strait of Hormuz under Project Freedom and guided ships through and added that it could resume and would be “much more severe.”&nbsp;Also Read: <a href="https://www.wionews.com/world/-iran-war-not-over-until-uranium-is-removed-facilities-dismantled-says-benjamin-netanyahu-1778433868543">‘Iran war not over until uranium is removed, facilities dismantled,’ says Benjamin Netanyahu</a>&nbsp;US Energy Secretary Chris Wright had told NBC News on Sunday that the Trump administration is “open to all ideas” to lower the cost of gas, including suspending the federal gas tax.Wright said, “All measures that can be taken to lower the price at the pump and lower the prices for Americans, this administration is in support of.”&nbsp;Asked whether President Donald Trump is open to suspending the federal gas tax, which stands at about 18 cents a gallon, Wright said, “We’re open to all ideas.”&nbsp;“Everything has trade-offs,” he added.&nbsp;“But I will say, the United States is in a tremendous position,” he added, pointing to US production of oil and natural gas.

Gas prices have soared over 50% since the start of the Iran war on Feb. 28, hitting a high of over $4.52 on Sunday, according to AAA. Analysts say the prices are likely to remain high with Iran blocking access to the Strait of Hormuz.

President Donald Trump said on Monday that he intends to suspend the federal gas tax “for a period of time” and phase it back in “when gas goes down.” The president made the comments in a phone interview with CBS News. Suspending the excise taxes—18.4 cents per gallon on gas and 24.4 cents a gallon on diesel—requires an act of Congress. However, Congress has so far shown little interest in suspending it to bring down costs. Gas prices have soared over 50% since the start of the Iran war on Feb. 28, hitting a high of over $4.52 on Sunday, according to AAA. “And yep, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in,” Trump said. “But no, we’re gonna, we’ll, we’ll be doing something on that. Yes.” Also Read: Pak Army chief says last year’s conflict with India was ‘battle of two ideologies’, claims strategy superiority Analysts say the prices are likely to remain high with Iran blocking access to the Strait of Hormuz. Referring to Iran’s latest response to the US peace proposal, President Trump said it made concessions on its nuclear programme, but “not enough”, and called it a “very stupid proposal.” Responding to a query on Israeli Prime Minister Benjamin Netanyahu’s comment that “nobody had perfect foresight” on the Strait of Hormuz, Trump said, “I did. I knew they closed it. That’s the only weapon they have.” He said the US military could have opened the Strait of Hormuz under Project Freedom and guided ships through and added that it could resume and would be “much more severe.” Also Read: ‘Iran war not over until uranium is removed, facilities dismantled,’ says Benjamin Netanyahu US Energy Secretary Chris Wright had told NBC News on Sunday that the Trump administration is “open to all ideas” to lower the cost of gas, including suspending the federal gas tax. Wright said, “All measures that can be taken to lower the price at the pump and lower the prices for Americans, this administration is in support of.” Asked whether President Donald Trump is open to suspending the federal gas tax, which stands at about 18 cents a gallon, Wright said, “We’re open to all ideas.” “Everything has trade-offs,” he added. “But I will say, the United States is in a tremendous position,” he added, pointing to US production of oil and natural gas.

Gas prices have soared over 50% since the start of the Iran war on Feb. 28, hitting a high of over $4.52 on Sunday, according to AAA. Analysts say the prices are likely to remain high with Iran blocking access to the Strait of Hormuz.

Trump says he intends to suspend gas tax ‘for a period of time’ as pump prices soar in US

American drivers are paying more than $4.50 a gallon for gasoline for the first time since July 2022, with the national average hitting $4.52 on Wednesday (May 6) morning, according to GasBuddy. This sharp escalation in fuel prices lands directly on the White House's political doorstep just five months before the US Midterm elections, where US President Donald Trump faces a tough challenge. This comes as a new ABC News/Washington Post/Ipsos poll showed that Trump's approval ratings have reached the lowest level of his second term, with Americans voicing growing dissatisfaction over the economy, inflation and the escalating Iran conflict.<h2>US gas prices over $4.5 for the first time in almost 4 years</h2>The surge in gas prices is being driven by ongoing disruptions to global oil flows through the Strait of Hormuz, where the US-Israeli conflict with Iran has rattled energy markets for weeks.Brent crude benchmark has climbed roughly 58 per cent since the conflict began. According to GasBuddy data, gas prices in the US first crossed the $4 mark in late March. They have accelerated sharply since.Also read | <a href="https://www.wionews.com/world/strait-of-hormuz-alert-us-reroutes-global-shipping-to-omani-waters-to-avoid-iranian-minefields-1778049002177">Strait of Hormuz alert: US reroutes global shipping to Omani waters to avoid Iranian 'minefields'</a><h2>Why the timing matters</h2>The timing couldn't be worse politically. Memorial Day weekend, the traditional start of the US summer driving season and historically the moment when fuel prices land hardest in the public consciousness, is just weeks away. Analysts warn that without de-escalation in the region, prices could push toward or beyond the records set during the 2022 energy crisis that followed Russia's invasion of Ukraine.Oil prices pulled back Tuesday and continued falling Wednesday, with West Texas Intermediate dropping 3.1 per cent to $99.12 a barrel and Brent declining 2.6 per cent to $107.01. But gasoline inventory data suggests the relief may be short-lived.US gasoline stocks fell by more than 6 million barrels last week to 222.3 million barrels, the lowest level since December and below the five-year seasonal average. Morgan Stanley estimates stocks could drop by 200 million barrels by late August if current trends hold.Also read | <a href="https://www.wionews.com/world/london-police-form-dedicated-jewish-protection-unit-amid-deeply-troubling-rise-in-antisemitic-incidents-1778039035896">London police form dedicated Jewish protection unit amid 'deeply troubling rise in antisemitic incidents'</a><h2>Trump's approval ratings fall miserably</h2>A new ABC News/Washington Post/Ipsos survey puts his approval rating at 37 per cent, the lowest of his second term, with 62 per cent disapproving, the highest disapproval rating recorded across both of his presidencies.The numbers on economic issues are particularly brutal. Around 76 per cent of Americans disapprove of how Trump is handling the cost of living. Some 72 per cent disapprove of his management of inflation, a significant rise from February. Nearly two-thirds, 65 per cent, disapprove of his handling of the economy overall, matching the worst economic ratings ever recorded for Joe Biden in earlier ABC/Post polling.Personal trust and confidence metrics are also poor. Roughly seven in ten Americans said Trump is not honest or trustworthy. Two-thirds said he does not carefully consider important decisions. About 60 per cent said he lacks the mental sharpness required to serve as president, and 55 per cent questioned his physical fitness for the role. More than half said he is not a strong leader.On the congressional battlefield, Democrats hold a modest edge. Among registered voters, 49 per cent said they would back a Democratic candidate if elections were held today, compared to 44 per cent for Republicans.&nbsp;&nbsp;<figure class="image"><img src="https://cdn1.wionews.com/prod/wion/images/2026/20260506/image-1778055412785.png"><figcaption>Image: GasBuddy</figcaption></figure>

As US gas prices surge past $4.50 a gallon for the first time in nearly four years, Donald Trump is heading into the midterm season facing a painful political squeeze: rising fuel costs, deep economic frustration and the worst approval ratings of his second term. Scroll down.

American drivers are paying more than $4.50 a gallon for gasoline for the first time since July 2022, with the national average hitting $4.52 on Wednesday (May 6) morning, according to GasBuddy. This sharp escalation in fuel prices lands directly on the White House's political doorstep just five months before the US Midterm elections, where US President Donald Trump faces a tough challenge. This comes as a new ABC News/Washington Post/Ipsos poll showed that Trump's approval ratings have reached the lowest level of his second term, with Americans voicing growing dissatisfaction over the economy, inflation and the escalating Iran conflict. US gas prices over $4.5 for the first time in almost 4 years The surge in gas prices is being driven by ongoing disruptions to global oil flows through the Strait of Hormuz, where the US-Israeli conflict with Iran has rattled energy markets for weeks. Brent crude benchmark has climbed roughly 58 per cent since the conflict began. According to GasBuddy data, gas prices in the US first crossed the $4 mark in late March. They have accelerated sharply since. Also read | Strait of Hormuz alert: US reroutes global shipping to Omani waters to avoid Iranian 'minefields' Why the timing matters The timing couldn't be worse politically. Memorial Day weekend, the traditional start of the US summer driving season and historically the moment when fuel prices land hardest in the public consciousness, is just weeks away. Analysts warn that without de-escalation in the region, prices could push toward or beyond the records set during the 2022 energy crisis that followed Russia's invasion of Ukraine. Oil prices pulled back Tuesday and continued falling Wednesday, with West Texas Intermediate dropping 3.1 per cent to $99.12 a barrel and Brent declining 2.6 per cent to $107.01. But gasoline inventory data suggests the relief may be short-lived. US gasoline stocks fell by more than 6 million barrels last week to 222.3 million barrels, the lowest level since December and below the five-year seasonal average. Morgan Stanley estimates stocks could drop by 200 million barrels by late August if current trends hold. Also read | London police form dedicated Jewish protection unit amid 'deeply troubling rise in antisemitic incidents' Trump's approval ratings fall miserably A new ABC News/Washington Post/Ipsos survey puts his approval rating at 37 per cent, the lowest of his second term, with 62 per cent disapproving, the highest disapproval rating recorded across both of his presidencies. The numbers on economic issues are particularly brutal. Around 76 per cent of Americans disapprove of how Trump is handling the cost of living. Some 72 per cent disapprove of his management of inflation, a significant rise from February. Nearly two-thirds, 65 per cent, disapprove of his handling of the economy overall, matching the worst economic ratings ever recorded for Joe Biden in earlier ABC/Post polling. Personal trust and confidence metrics are also poor. Roughly seven in ten Americans said Trump is not honest or trustworthy. Two-thirds said he does not carefully consider important decisions. About 60 per cent said he lacks the mental sharpness required to serve as president, and 55 per cent questioned his physical fitness for the role. More than half said he is not a strong leader. On the congressional battlefield, Democrats hold a modest edge. Among registered voters, 49 per cent said they would back a Democratic candidate if elections were held today, compared to 44 per cent for Republicans. Image: GasBuddy

As US gas prices surge past $4.50 a gallon for the first time in nearly four years, Donald Trump is heading into the midterm season facing a painful political squeeze: rising fuel costs, deep economic frustration and the worst approval ratings of his second term. Scroll down.

Gas hits $4.50 a gallon as Trump's approval ratings sink to record low ahead of US midterms

Gasoline prices across the United States climbed to a four-year high on Tuesday (April 28) as negotiations between the US and Iran showed little progress. According to AAA, the national average price for a gallon of regular gasoline reached $4.18. This is the highest level since April 2022, shortly after Russia invaded Ukraine. Prices rose 1.6 per cent on Tuesday alone, marking the sharpest daily increase in over a month. Crude oil prices continued their upward trend as talks remained stalled over reopening the Strait of Hormuz and limiting Iran’s nuclear activities.&nbsp;Over the past week, oil prices have surged steadily. Brent crude, the global benchmark, has increased in six of the last seven sessions and is now more than 40 per cent higher than before the initial U.S.-Israeli strikes on Iran in late February. Despite rising energy costs, stock markets remain near record highs, supported by strong corporate earnings. Investors are closely watching upcoming reports from major technology firms investing heavily in artificial intelligence. Oil prices saw further gains on Tuesday. Brent crude rose 4 per cent to above $105 per barrel for July delivery before easing to $104 after the United Arab Emirates announced plans to exit OPEC next month. Over the past week, Brent has climbed roughly $10 per barrel, while June delivery prices briefly exceeded $110.&nbsp;Also Read: <a href="https://www.wionews.com/world/athens-shootings-89-year-old-gunman-arrested-after-office-court-attacks-1777391579416">Athens shootings: 89-year-old gunman arrested after office, court attacks</a>&nbsp;Meanwhile, West Texas Intermediate crude increased 5 percent to about $101 per barrel for June delivery. Market participants are closely monitoring disruptions in the Strait of Hormuz, a crucial route between Iran and Oman that typically handles about one-fifth of global oil supply. Stock markets showed some weakness ahead of key economic events. The S&amp;P 500 dropped 0.6 percent on Tuesday after a slight gain the previous day, as investors awaited tech earnings and the Federal Reserve’s interest rate decision. Asian markets were mixed. South Korea’s Kospi rose 0.4 percent, while Taiwan’s Sensex fell 0.4 percent. Japan’s Nikkei 225 declined 1 per cent after the Bank of Japan kept rates unchanged, though some policymakers signaled concern about inflation linked to the Iran conflict.&nbsp;<a href="https://www.wionews.com/videos/mexico-captures-drug-kingpin-el-mencho-s-possible-successor-el-jardinero-1777396967753/embed">https://www.wionews.com/videos/mexico-captures-drug-kingpin-el-mencho-s-possible-successor-el-jardinero-1777396967753/embed</a>&nbsp;In Europe, the Stoxx 600 index slipped 0.5 per cent. Gasoline prices continued to edge higher, with the national average reaching $4.18 per gallon, up about 40 per cent since the conflict began. Diesel prices have risen even faster, reaching $5.46 per gallon, a 45 per cent increase. Gas prices typically lag behind changes in crude oil, rather than moving in direct sync.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.

U.S. gas prices surge to a four-year high amid Iran tensions, rising oil prices, and Strait of Hormuz disruptions impacting global markets

Gasoline prices across the United States climbed to a four-year high on Tuesday (April 28) as negotiations between the US and Iran showed little progress. According to AAA, the national average price for a gallon of regular gasoline reached $4.18. This is the highest level since April 2022, shortly after Russia invaded Ukraine. Prices rose 1.6 per cent on Tuesday alone, marking the sharpest daily increase in over a month. Crude oil prices continued their upward trend as talks remained stalled over reopening the Strait of Hormuz and limiting Iran’s nuclear activities. Over the past week, oil prices have surged steadily. Brent crude, the global benchmark, has increased in six of the last seven sessions and is now more than 40 per cent higher than before the initial U.S.-Israeli strikes on Iran in late February. Despite rising energy costs, stock markets remain near record highs, supported by strong corporate earnings. Investors are closely watching upcoming reports from major technology firms investing heavily in artificial intelligence. Oil prices saw further gains on Tuesday. Brent crude rose 4 per cent to above $105 per barrel for July delivery before easing to $104 after the United Arab Emirates announced plans to exit OPEC next month. Over the past week, Brent has climbed roughly $10 per barrel, while June delivery prices briefly exceeded $110. Also Read: Athens shootings: 89-year-old gunman arrested after office, court attacks Meanwhile, West Texas Intermediate crude increased 5 percent to about $101 per barrel for June delivery. Market participants are closely monitoring disruptions in the Strait of Hormuz, a crucial route between Iran and Oman that typically handles about one-fifth of global oil supply. Stock markets showed some weakness ahead of key economic events. The S&P 500 dropped 0.6 percent on Tuesday after a slight gain the previous day, as investors awaited tech earnings and the Federal Reserve’s interest rate decision. Asian markets were mixed. South Korea’s Kospi rose 0.4 percent, while Taiwan’s Sensex fell 0.4 percent. Japan’s Nikkei 225 declined 1 per cent after the Bank of Japan kept rates unchanged, though some policymakers signaled concern about inflation linked to the Iran conflict. https://www.wionews.com/videos/mexico-captures-drug-kingpin-el-mencho-s-possible-successor-el-jardinero-1777396967753/embed In Europe, the Stoxx 600 index slipped 0.5 per cent. Gasoline prices continued to edge higher, with the national average reaching $4.18 per gallon, up about 40 per cent since the conflict began. Diesel prices have risen even faster, reaching $5.46 per gallon, a 45 per cent increase. Gas prices typically lag behind changes in crude oil, rather than moving in direct sync. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.

US gas prices hit $4.18, a 4-year high, as ongoing Iran tensions disrupt oil supply and push crude prices above $100 per barrel globally

Energy shock: US gas prices hit 4-year high as Iran tensions push oil above $100

US Treasury Secretary Scott Bessent said on Wednesday (April 15) that gas prices in the United States could fall to around $3 per gallon between late June and late September, depending on developments in global energy supply. “It’s bank week here in DC, so I’ve been meeting with a lot of my Middle Eastern counterparts, the finance ministers, and they all say when the straits are open, they can start pumping again within one week,” Bessent told reporters during a press briefing.&nbsp;He emphasised that the timeline hinges on negotiations surrounding the reopening of the Strait of Hormuz, a critical route for global oil shipments. “I’m optimistic that sometime between June 20 and September 20, we can have $3 gas again,” Bessent said. Gas prices are currently averaging $4.11, according to The Hill. Prices surged following the escalation of the Iran war, during which Iran shut down the Strait of Hormuz, a passage that handles roughly 20% of the world’s oil supply.&nbsp;Also Read: <a href="https://www.wionews.com/trending/trump-s-arc-de-trump-gets-official-name-here-s-what-it-will-be-called-1776281308689">Trump’s ‘Arc de Trump’ gets official name. Here’s what it will be called</a>&nbsp;Meanwhile, Donald Trump recently weighed in on future energy costs, suggesting uncertainty ahead of the 2026 midterm elections. “I hope so,” Trump answered. “I mean, I think so. It could be, it could be, or the same, or maybe a little bit higher. But, it should be around the same.” During the briefing, White House Press Secretary Karoline Leavitt and Bessent were also questioned about potential tariffs on China.&nbsp;<a href="https://www.wionews.com/videos/starmer-s-survival-as-pm-at-stake-as/embed-opinion-polls-predict-election-debacle-for-labour-1776274178847">https://www.wionews.com/videos/starmer-s-survival-as-pm-at-stake-as/embed-opinion-polls-predict-election-debacle-for-labour-1776274178847</a>&nbsp;Leavitt said Chinese President Xi Jinping had assured Trump that China is not supplying weapons to Iran amid the conflict. Bessent added that the Treasury Department has warned two Chinese banks they could face secondary sanctions if Iranian funds are found in their accounts, though he did not name the institutions.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.

US Treasury Secretary Scott Bessent says gas prices could fall to $3 between June and September if the Strait of Hormuz reopens amid Iran tensions

US Treasury Secretary Scott Bessent said on Wednesday (April 15) that gas prices in the United States could fall to around $3 per gallon between late June and late September, depending on developments in global energy supply. “It’s bank week here in DC, so I’ve been meeting with a lot of my Middle Eastern counterparts, the finance ministers, and they all say when the straits are open, they can start pumping again within one week,” Bessent told reporters during a press briefing. He emphasised that the timeline hinges on negotiations surrounding the reopening of the Strait of Hormuz, a critical route for global oil shipments. “I’m optimistic that sometime between June 20 and September 20, we can have $3 gas again,” Bessent said. Gas prices are currently averaging $4.11, according to The Hill. Prices surged following the escalation of the Iran war, during which Iran shut down the Strait of Hormuz, a passage that handles roughly 20% of the world’s oil supply. Also Read: Trump’s ‘Arc de Trump’ gets official name. Here’s what it will be called Meanwhile, Donald Trump recently weighed in on future energy costs, suggesting uncertainty ahead of the 2026 midterm elections. “I hope so,” Trump answered. “I mean, I think so. It could be, it could be, or the same, or maybe a little bit higher. But, it should be around the same.” During the briefing, White House Press Secretary Karoline Leavitt and Bessent were also questioned about potential tariffs on China. https://www.wionews.com/videos/starmer-s-survival-as-pm-at-stake-as/embed-opinion-polls-predict-election-debacle-for-labour-1776274178847 Leavitt said Chinese President Xi Jinping had assured Trump that China is not supplying weapons to Iran amid the conflict. Bessent added that the Treasury Department has warned two Chinese banks they could face secondary sanctions if Iranian funds are found in their accounts, though he did not name the institutions. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.

Scott Bessent says US gas could drop to $3 by late summer if the Strait of Hormuz reopens, as oil supply recovers amid Iran conflict and global talks

'Gas prices in America could drop to $3 by late September', says US Treasury Secretary Scott Bessent

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US Beer Sales Sees Sharp Slowdown | US Gas Prices Jump 52% Since Iran War

Trump says he intends to suspend gas tax ‘for a period of time’ as prices soar

Gas hits $4.50 a gallon as Trump's approval ratings sink to record low

Energy shock: US gas prices hit 4-year high as Iran tensions push oil above $100

'Gas prices in America could drop to $3 by late September', says Scott Bessent