As the summer travel season opens, the price at the pump is reshaping how Granite Staters feel about their own finances and the broader economy. A new Business and Industry Association Report on Consumer Confidence, conducted by the University of New Hampshire Survey Center and detailed by New Hampshire Public Radio, finds that rising fuel costs are now one of the largest sources of economic anxiety in the state, and that anxiety is already changing the way people spend, drive, and plan.

The numbers tell a clear story. About 60 percent of New Hampshire residents say they are very or somewhat worried about paying for gasoline over the next twelve months. As of June 1, the average price of a gallon of gas in New Hampshire was $4.372, according to AAA, a level high enough to register in household budgets across income brackets. For a state where many residents commute long distances and heat their homes with oil and propane, energy prices land harder than national averages suggest.

Households Are Already Pulling Back

The survey, which polled 1,198 New Hampshire residents online between May 21 and May 25, found that the pressure is not theoretical. About 40 percent of respondents said they had cut spending on non-essentials over the past three months because of gas prices, and roughly the same share reported traveling fewer miles in their everyday lives. Those are the kinds of behavioral shifts that ripple outward into the wider economy, because one household’s discretionary spending is another local business’s revenue.

The mood about personal finances has soured in tandem. Forty-five percent of those surveyed believe their household finances are worse than they were a year ago, and 40 percent expect to be worse off a year from now. That combination, a negative read on both the recent past and the near future, is a hallmark of declining consumer confidence and tends to precede slower spending growth.

“Fast rising gas prices are now another concerning factor that will test consumer spending and the economy as we enter the summer vacation and travel season,” said Michael Skelton, president and CEO of the Business and Industry Association of New Hampshire, in the report. The BIA is the state’s statewide chamber of commerce and a leading voice for New Hampshire employers, which gives the warning added weight: businesses are watching the same data and bracing for a cautious consumer.

A National Squeeze With a Local Accent

New Hampshire’s experience is unfolding against a difficult national backdrop. Inflation nationally is running at 3.8 percent, the highest in three years, and national consumer confidence has declined as price pressures remain elevated. Fuel costs sit at the center of that story because gasoline is one of the few prices Americans encounter daily, posted in foot-high numbers on signs they pass on every errand. That visibility makes gas an outsized driver of how people judge the entire economy, even when other costs matter more to their bottom line.

For Granite Staters, the energy piece of the inflation picture is especially acute. The state imports nearly all of its energy, and a meaningful share of households rely on heating oil and propane through the colder months. When global energy markets move, New Hampshire feels it quickly. That dynamic has shown up repeatedly in recent state economic data, and it compounds the affordability strains that families already face in housing, health care, and child care.

The Politics of the Pump

The survey also captured how sharply views on gas prices break along partisan lines. Two-thirds of New Hampshire residents believe President Trump is responsible for the recent increase in gas prices. Worry about affording fuel is similarly divided: more than 75 percent of Democrats and independents expressed concern, compared with about 35 percent of Republicans.

That split is a reminder that economic sentiment is filtered through political identity. The same price at the same pump can read as a crisis or a passing inconvenience depending on who a voter holds responsible and how they expect policy to respond. For candidates heading into the midterm cycle, the gas gauge has become a political instrument as much as an economic one, and the party that convinces voters it has a credible plan to ease prices stands to benefit.

Why This Matters for the Granite State Economy

Consumer spending is the engine of New Hampshire’s economy, and confidence is the fuel that keeps it running. When households trim non-essential purchases and drive less, the effects show up first in the businesses that depend on summer foot traffic: restaurants, lodging, tourist attractions, and retail in the Lakes Region, the Seacoast, and the White Mountains. A weak confidence reading in early June is an early-warning signal for an industry that earns much of its annual revenue between Memorial Day and Labor Day.

The strain also intersects with a longer-running affordability challenge. New Hampshire has been winning the migration race for young workers even as rising costs threaten to push some of them back out. And while the state’s headline economic indicators remain solid, a closer look shows workers losing ground as the cost of essentials outpaces wage growth. High fuel prices add another weight to that scale, particularly for lower- and moderate-income families who spend a larger share of their income on transportation and have the least room to absorb a shock.

There is also an environmental and policy dimension. Energy market volatility has been a recurring headwind for the state’s economy, and the debate over how to insulate New Hampshire from global price swings, through efficiency, diversified supply, and infrastructure, runs directly through Concord. For now, though, the immediate reality is simpler and more personal: a tank of gas costs more than it did a year ago, and Granite Staters are noticing every fill-up.

What happens next depends heavily on where prices go from here. If fuel costs ease through the summer, confidence could rebound and spending could stabilize. If they climb further, the cutbacks already showing up in the survey could deepen, with consequences for businesses, workers, and the broader economy as the state heads toward fall.

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How much are gas prices in New Hampshire right now?

As of June 1, 2026, the average price of a gallon of gasoline in New Hampshire was $4.372, according to AAA. That level has made fuel one of the top economic concerns for residents, with about 60 percent saying they are very or somewhat worried about paying for gas over the next twelve months.

What did the UNH consumer confidence survey find?

The Business and Industry Association Report on Consumer Confidence, conducted by the University of New Hampshire Survey Center, found that 45 percent of New Hampshire residents believe their household finances are worse than a year ago, 40 percent expect to be worse off a year from now, and about 40 percent have cut non-essential spending or driven fewer miles because of gas prices. The survey polled 1,198 residents online between May 21 and May 25, 2026.

Why are gas prices a bigger issue in New Hampshire than in many other states?

New Hampshire imports nearly all of its energy and a significant share of households rely on heating oil and propane. Many residents also commute long distances. That combination makes the state especially sensitive to swings in global energy markets, so fuel price increases tend to hit Granite State budgets harder than national averages indicate.

How are gas price concerns divided politically in New Hampshire?

The survey found a sharp partisan split. Two-thirds of New Hampshire residents believe President Trump is responsible for the recent increase in gas prices. More than 75 percent of Democrats and independents said they were worried about affording fuel, compared with roughly 35 percent of Republicans.

What could rising gas prices mean for the summer economy?

Because consumer spending drives much of New Hampshire’s economy, a drop in confidence can quickly affect businesses that depend on summer travel, including restaurants, lodging, and tourism in the Lakes Region, Seacoast, and White Mountains. If prices stay high, the spending cutbacks already reported in the survey could deepen through the season.