Consumer confidence tumbled in May, hitting the lowest level in at least seven years, the Conference Board of Canada said today.

Waning confidence was recorded in every region in the country, but sentiment soured most in Central and Eastern Canada.

The think-tank said today its confidence index fell seven points in May to 85.8, the lowest level since the survey switched to a monthly basis in December 2001.

Part of the reason behind the drop could be the rise in gasoline prices, the Conference Board noted. The last time consumer confidence fell sharply was in the fall of 2005 when fuel prices spiked after Hurricane Katrina.