Gas prices have dropped to a four-year low for Memorial Day 2025, averaging $3.08 per gallon, the lowest since 2021, according to GasBuddy. This decline, driven partly by a 17.5% drop in crude oil prices since President Donald Trump took office in January 2025, is attributed to increased OPEC production and Trump’s push for domestic oil and gas output through deregulation. Posts on X and some media outlets, like Fox News, suggest this could boost
Trump’s approval ratings, especially with 69% of Americans planning to travel by car for the holiday weekend. Lower gas prices are seen as a “psychological tax cut,” easing cost-of-living concerns, a key voter issue.
However, the impact on Trump’s approval is mixed. While some X posts credit him for the cheapest Memorial Day gas since 2003, others argue the decline began under President Biden, with prices falling from $3.58 last Memorial Day to $3.11 by January 2025. Polls show Trump’s approval rating slipping, with a net decline in 49 states since January, now at around 42–45%, per sources like NPR and The New York Times.
Economic turbulence from Trump’s tariff policies, which sparked recession fears, has offset some gains from lower gas prices. Experts warn that falling crude oil prices, partly due to tariff-related economic concerns, may not sustain long-term relief at the pump if production slows. Thus, while falling gas prices offer some political capital, they haven’t broadly reversed Trump’s declining approval trend.