Energy Cost Concerns in America Remain Steady Despite Rising Gas Prices

According to a recent Gallup poll, the concerns among Americans regarding energy costs have not seen an increase since the onset of the U.S.-Israel conflict with Iran, despite a nearly $1 surge in gasoline prices. As of this week, 35% of adults in the U.S. report being “very” concerned about energy availability and affordability, a figure that has remained stable compared to last year and is notably lower than the 47% who expressed similar worries in 2022, during the early stages of the Russo-Ukrainian war.

The poll, which surveyed 1,000 adults from March 2 to March 18, began just two days after the U.S. and Israel launched an attack against Iran on February 28. Following this, Iran has restricted access to the Strait of Hormuz, an essential route for global oil transport, resulting in rising fuel prices nationwide.

Despite this price increase, only 2% of Americans consider gas prices to be the most significant issue the nation faces. Other worries like government performance, which weighs at 28%, the economy overall at 15%, immigration at 14%, and inflation at 10% far overshadow energy costs. Interestingly, the percentage of people referencing the economy has risen from 11% in February, but the specific focus on gasoline prices continues to remain somewhat overlooked.

Fewer individuals now predict significant energy shortages compared to prior price spikes. Only 43% of participants expect shortages within the next five years, down from 55% who had similar expectations in 2022. This is also considerably less than the over 60% who foresaw shortages during the peaks in 2008 and 2011.

The most pronounced difference in concerns appears along partisan lines. Approximately 46% of Democrats express strong worries about energy, while only 23% of Republicans share the same sentiment, demonstrating a 23-point gap. Interestingly, concern among Republicans has decreased by 10 points since last March, whereas Democratic concern has risen by 8 points, suggesting that Americans may be increasingly viewing the country’s condition through the lens of their party’s control of the White House.

Gallup notes that the relatively calm response might reflect a belief that the price increases are temporary. However, they caution that public sentiment could shift if prices keep climbing, likely hinging on whether a resolution can be reached between the U.S., Israel, and Iran as the conflict continues into its fourth week.