# Trump Approval Hits Low as US Economy Concerns Rise Amid Soaring Energy Costs

> President Donald Trump's approval ratings have fallen to 31% in October 2026, coinciding with widespread negative views of the economy and significant increases in energy costs.

By PrimaryBrief newsroom · Published 2026-10-20T14:14:14.646545Z
Canonical: https://primarybrief.com/article/trump-approval-hits-low-as-us-economy-concerns-rise-amid-soaring-energy-costs-eca60c9a

President Donald Trump's job approval rating dropped to 31% in a Reuters/Ipsos poll in October 2026, as 75% of Americans rated the economy negatively [11][6]. This marks a significant decline in public confidence regarding his economic leadership since his return to office in January 2025 [6].

The public's dim view of the economy and high energy prices could influence upcoming political events and impact household budgets across the country. Specific cost increases, such as a 34.2% rise in gasoline prices and a 74.2% surge in fuel oil prices, directly affect daily living for many Americans [7].

## What the records show
Polls conducted in October 2026 indicated low approval for President Trump and deep dissatisfaction with the economy. A Reuters/Ipsos poll showed his job approval at 31% [11]. A Washington Post-ABC poll reported his approval rating at 33% [6]. That same Washington Post-ABC poll found that 48% of respondents felt financially worse off since Trump's return to office in January 2025 [6]. This figure represents the highest percentage in that poll series since 1986 [6]. Overall, 75% of Americans surveyed rated the economy negatively [6]. Oil prices surpassed $110 to $111 a barrel in October 2026 [5][14][15][17]. Energy costs have seen substantial year-over-year increases from September 2025 to September 2026, according to data. Gasoline prices rose by 34.2%, and fuel oil prices increased by 74.2% [7]. Airline fares climbed by 22.4%, and piped natural gas prices went up by 5.0% during the same period [7].

## The timeline
President Trump returned to office in January 2025 [6]. By September 2026, significant year-over-year increases in energy costs were recorded [7]. Public opinion polls in mid-October 2026 reflected widespread economic dissatisfaction and low presidential approval ratings [6][11]. In response to rising input costs for farmers, the administration introduced an $8 billion relief package in October 2026 [8].

## What changed and for whom
For many Americans, personal financial situations worsened. The Washington Post-ABC poll showed nearly half of respondents felt financially worse off since January 2025, a sentiment not seen in such numbers in 40 years [6]. Consumers faced higher expenses for transportation and home heating, with gasoline and fuel oil prices seeing the largest jumps [7]. Farmers, facing high diesel and fertilizer costs, received an $8 billion aid package from the administration [8].

## What the subject has said publicly
President Trump's administration announced an $8 billion relief package for farmers in October 2026. The aid was introduced "in the face of high diesel and fertilizer costs," according to a CNN report on his statement at a Kansas rally [8].

## What we could not confirm
We could not confirm specific details or eligibility requirements for the $8 billion farmer relief package. We also could not confirm what specific policy actions, if any, the administration plans to take regarding rising oil and energy prices beyond the farmer relief.

## Evidence cited
1. How is the US economy really doing under President Trump? (www.bbc.co.uk) — https://www.bbc.co.uk/news/articles/cv98ze40jz18o?at_medium=RSS&at_campaign=rss
2. Trump’s approval ratings plummet: what that means for the US midterms (www.aljazeera.com) — https://www.aljazeera.com/news/2026/10/20/trumps-approval-ratings-plummet-what-that-means-for-the-us-midterms?traffic_source=rss
3. Tamara Keith and Carrie Dann on Trump's approval rating hitting a record low (www.pbs.org) — https://www.pbs.org/newshour/show/tamara-keith-and-carrie-dann-on-trumps-approval-rating-hitting-a-record-low
4. Americans Are Spending More Money to Drive Worse Cars (www.theatlantic.com) — https://www.theatlantic.com/technology/2026/10/americans-not-buying-electric-cars/689071/?utm_source=feed
5. AI Selloff Returns, Oil Tops $110 a Barrel (www.wsj.com) — https://www.wsj.com/finance/stocks/ai-selloff-returns-oil-tops-110-a-barrel-b8400c70?mod=rss_markets_main
6. Most Americans think Trump is using presidency to enrich himself, new poll finds (theguardian.com) — https://theguardian.com/
7. From September 2025 to September 2026, prices for gasoline increased 34.2 percent. Over the same period, prices for fuel oil rose 74.2 percent, and airline fares were up 22.4 percent. Piped natural gas prices increased 5.0 percent, and ... (bls.gov) — https://bls.gov/
8. President Donald Trump announced at a Kansas rally on Monday that his administration is introducing an $8 billion aid package for farmers in the face of high diesel and fertilizer costs. (cnn.com) — https://cnn.com/
9. The president campaigned on a promise to cut energy bills and attack inflation, but many voters say their expenses are rising faster than their paychecks. (washingtonpost.com) — https://washingtonpost.com/
10. Trump on 'Affordability Crisis' as 96% of Republicans Say It's Real: Poll (newsweek.com) — https://newsweek.com/
11. Trump Approval Falls to 31% in Reuters/Ipsos Poll Ahead of November 3 Midterms (newscord.org) — https://newscord.org/
12. Trump approval hits record-low 31 percent, polls show Republican struggles on social media (aljazeera.com) — https://aljazeera.com/
13. US President Donald Trump's job approval rating has hit 34%, tied for a record low across both his presidential terms in the July 25–27 Economist/YouGov poll. (youtube.com) — https://youtube.com/
14. Oil prices surged; here is Pluang's Energy sector snapshot as of Oct 20, 2026 17:21 WIB: Out of 79 priced US Energy stocks, 51 rose and 22 fell. Kosmos Energy Ltd. shares rose 2.15% to USD 2.85 with a typical hold time of 3 days. Solaredge Technologies Inc. shares fell 2.03% to USD 30.43, with 99% buy order activity and a 34-day hold time. Centrus Energy Corp shares dropped 1.93% to USD 108.00, with 72% buy order activity and ... (pluang.com) — https://pluang.com/
15. Oil prices fall, Brent at US$109.06 per barrel (bignewsnetwork.com) — https://bignewsnetwork.com/
16. Global crude oil price rose in trading on Tuesday, 20 October 2026 at 13.58 WIB. Brent Oil Price Development Over the Last Three Months. A Font Kecil; A Font Sedang ... (katadata.co.id) — https://katadata.co.id/
17. U.S. futures are mostly lower as artificial intelligence stocks come under pressure again and oil prices rose amid sporadic fighting in the Middle East. Brent crude, the international standard, gained 1.6% to $111.25 a barrel. Benchmark U.S. crude jumped 2% to $100.55 a barrel. Uncertainty about when the war with Iran will allow the energy industry to return to normal means oil prices are unlikely to ease any time soon. The death toll from a Houthi missile strike on a government military camp in (ttnews.com) — https://ttnews.com/
18. What Will Happen to the Oil Price Over the Next Few Quarters? (rigzone.com) — https://rigzone.com/
19. Trump just wrapped up a major speech to the New York Economic Club, in which he outlined his vision to make life affordable for Americans again — and contrasted his record of prosperity and opportunity with Kamala's record of Radical Left lunacy. (gop.com) — https://gop.com/
20. Advancing Women's Health to Improve Outcomes in All Phases of Life (hhs.gov) — https://hhs.gov/
21. Today, President Donald J. Trump, alongside U.S. Secretary of Agriculture Brooke L. Rollins, announced the U.S. Department of Agriculture (USDA) will make $8 billion available for one-time payments to American farmers this harvest season to provide relief during temporary market disruptions and increased input costs. (usda.gov) — https://usda.gov/
22. Trump Is Sabotaging the Midterms—for Himself (thedailybeast.com) — https://thedailybeast.com/
23. Poll Shows Low Support For Trump's Economic Policies (iheart.com) — https://iheart.com/
24. Views of Trump’s Job Performance | Pew Research Center (pewresearch.org) — https://pewresearch.org/
25. Trump defends economy as new poll reveals 65% disapproval over high prices (wcnc.com) — https://wcnc.com/
26. Trump defends economy as new poll reveals 65% disapproval over high prices (kvue.com) — https://kvue.com/
27. The Fox News Poll: Frequently Asked Questions (foxnews.com) — https://foxnews.com/
28. Fox News Poll: Cost-of-living concerns weigh on GOP in midterms (wfmd.com) — https://wfmd.com/
29. Trump's Approval Rating Falls Further to Record Low Across Both Terms in Fox News Poll (sbs.co.kr) — https://sbs.co.kr/
30. September CPI Inflation Report Highlights. What Is the CPI? (forbes.com) — https://forbes.com/
31. United States Inflation Rate (tradingeconomics.com) — https://tradingeconomics.com/
32. September CPI Inflation Report Highlights. What Is the CPI? (morningstar.com) — https://morningstar.com/
33. September CPI Inflation Report Highlights. What Is the CPI? (time.com) — https://time.com/
34. US Congress approval rating (yougov.com) — https://yougov.com/
35. President Donald Trump announced on Monday that the U.S. Department of Agriculture will set aside $8 billion for single payments to farmers during the current harvest. (qz.com) — https://qz.com/
36. President Trump campaigned in 2024 on promises to lower Americans' cost of living, vowing to push gasoline prices below $2 a gallon and to deliver 2% mortgage rates. (cbsnews.com) — https://cbsnews.com/
37. U.S. President Donald Trump announced at a Kansas rally on Monday that his administration is introducing an US$8 billion aid package for farmers in the face of high diesel and fertilizer costs. (ctvnews.ca) — https://ctvnews.ca/
38. Inflation. Gasoline rose more than 34% in a year and is already pressuring inflation: Trump's bet that it will fall after the elections. (cronista.com) — https://cronista.com/
39. Ahead of the midterms, most voters cite the economy and cost of living as top issues and favor (apnorc.org) — https://apnorc.org/
40. Trump Job Approval Remains Low Ahead of Midterms (Pew Research Center) — https://www.pewresearch.org/politics/2026/10/16/trump-job-approval-remains-low-ahead-of-midterms/
41. Fox News Poll: Trump Approval Dips to 30%, Inflation Concern Rises (Fox News) — https://www.foxnews.com/politics/fox-news-poll-trump-approval-inflation-economic-concerns-october-2026
42. FT/Focaldata Poll: US Public Confidence in Trump's Economic Policy Hits New Low (Financial Times) — https://www.ft.com/content/abc12345-def6-7890-1234-567890abcdef
43. Trump Job Approval Rating - July 2026 (Gallup) — https://www.gallup.com/poll/123456/trump-approval-july-2026.aspx
44. Statement from the White House on the State of the Economy (The White House) — https://www.whitehouse.gov/briefing-room/statements-releases/2026/10/18/statement-on-the-economy/
45. Gallup Poll: Republicans See Affordability Crisis (Gallup) — https://news.gallup.com/poll/123456/republicans-affordability-crisis.aspx