Gas Prices Drag US Consumer Sentiment to Fresh Low in May

‘Consumers appear worried that inflation will increase and proliferate beyond fuel prices,’ said the University of Michigan’s consumer surveys director.

Customers fill up with gas in Los Angeles, on March 11, 2026. John Fredricks/The Epoch Times

The pain at the pump dragged U.S. consumer sentiment to a fresh record low in May, according to the University of Michigan.

The widely watched Surveys of Consumers declined for a third consecutive month to 44.8, revised down from the preliminary estimate of 48.2 earlier in May.