Presidential approval ratings in the U.S. have historically correlated with gas prices, but this relationship has become more complex in recent years. Polarization has created a scenario where presidents receive strong support from their party and unified opposition from the other party, resulting in a higher approval floor and a lower ceiling. The recent spike in gas prices, exceeding $4 per gallon nationally and over $7 in California, may challenge this trend and reveal a potential threshold that could impact approval ratings.
""Presidents have fairly unified support from their own party, and unified opposition from the other party, which means they have a higher floor and a lower ceiling," he said, referring to approval ratings."
"The quick pace with which prices have jumped may be enough to upend that trend."
"Maybe we'll find out if there's a threshold for gas prices that lowers the approval floor."
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