The historic oil disruption, fueled by the ongoing stalemate in the Strait of Hormuz, is deepening economic divides in the US and casting a shadow over President Donald Trump’s political fortunes.
Surging gas prices are squeezing low- and middle-income households — Americans have spent $45 billion more on gasoline and diesel during the war than over the same period last year — while boosting the coffers of energy firms, The Wall Street Journal reported.
Anxiety over rising prices and increasing debt has weakened Trump’s approval ratings ahead of the midterm elections, and many voters blame him for high gas prices.
While the president appeared to dismiss Americans’ economic woes last week, some rural voters remain loyal to him, Reuters reported.
