Economic satisfaction plummeted during President Biden's first year in office as American consumers grappled with the hottest inflation in nearly four decades and the continuation of the COVID-19 pandemic.
One of the biggest satisfaction declines in the survey was with energy policies: Just 27% of respondents said they were satisfied with energy policies, a steep drop from one year ago, when 42% said they were satisfied.
Rising gas prices are likely the reason. The Labor Department reported in January that gasoline prices have skyrocketed 49.6% over the past year, while natural gas has surged 24.1% and electricity is up 6.3%. A gallon of gas, on average, was $3.37 nationwide on Monday, according to AAA – up from $2.42 a year ago. In California, gas prices are well over $4 per gallon.
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