U.S. consumer sentiment fell to a record low in May as surging gasoline prices linked to the Iran war intensified affordability concerns, highlighting broader dissatisfaction with President Donald Trump’s handling of the economy. The University of Michigan's Surveys of Consumers on Friday showed sentiment among Republicans and Independents dropped to the lowest level of Trump's second term. Trump won re-election in 2024 in large part because of his promise to reduce inflation, but Americans have faced higher prices from his sweeping tariffs and now from the U.S.-Israeli war with Iran.