President Donald Trump’s approval rating has fallen to the lowest level of his current term, as Americans grow increasingly dissatisfied with his handling of the cost of living and the war with Iran, according to a new poll.

Trump Approval Falls To New Low

The Reuters/Ipsos poll released Tuesday showed Trump’s approval rating dropping to 34%, down 2 percentage points from mid-April and March. His disapproval rating rose to 64%, up from 62% in March, Reuters reported.

The latest number matches the second-lowest mark of Trump’s first term, recorded six days after the Jan. 6, 2021, Capitol riot. His lowest Reuters/Ipsos approval rating was 33% in December 2017. The new survey also showed his approval on the overall economy falling to 27%, its weakest point in the polling partnership’s tracking.

Gas Prices Weigh On Households

The slide comes as higher costs weigh on households. Gasoline prices have jumped more than 40% to about $4.18 a gallon since the U.S. and Israel launched attacks on Iran at the end of February this year, disrupting energy flows through the Persian Gulf. Only 22% of Americans approved of Trump’s handling of the cost of living, down from 25% in March.

That said, Trump still retains support from most Republicans, with 71% approving of his performance. But 41% of Republicans said they disapproved of his handling of the cost of living, a warning sign for the White House ahead of the midterm elections.

The president’s approval on the conflict with Iran stood at 34%, matching his overall rating and down from 36% in mid-April and 38% in March.

Iran Conflict Adds Political Pressure

Reuters noted that most responses came before the shooting at the White House Correspondents’ Association dinner at the Washington Hilton on Saturday and said it “remains to be seen” whether the incident could affect public views of Trump.

Other polls have shown similar weakness. The Associated Press-NORC Research Center reported last week that Trump’s approval rating on the economy had fallen as the war in Iran pushed prices higher. AP-NORC also found that only 23% approved of his handling of the cost of living.

Trump’s administration has argued that fuel prices should ease once the Strait of Hormuz reopens. The U.S. and Iran have maintained a fragile ceasefire while Tehran submits peace terms, but Secretary of State Marco Rubio criticized Iran’s framework and said international waterways cannot depend on Iranian permission.

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