JGalt
Diamond Member
- Mar 9, 2011
- 71,501
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I disagree with the statement "there’s not a lot a president can do to impact gasoline prices in the short term." The fact that the price of gasoline has historically been lower under Republican Presidents should say something to you. Even under GW and with a war raging in the Middle East, gasoline only went as high as $3.50 per gallon, while today's average price per gallon is $3.684.
"In June 2022, driven by a combination of the Russian invasion of Ukraine, an economic recovery from Covid-19, and arguably certain policies of the Biden Administration, the average weekly retail gasoline price hit an all-time high of $5.07 per gallon. (Source).
Since then, gasoline prices have fallen substantially, and were most recently $3.51/gallon. But I thought it might be interesting to look at the average gasoline price under each president over the past 20 years or so. (Prior to that, gasoline prices were generally under $2.00 a gallon).
Presidents get a lot of credit and blame over rising and falling gasoline prices. In reality, there’s not a lot a president can do to impact gasoline prices in the short term. Longer term, a president can pass policies that impact supply and demand in such a way that they do impact gasoline prices. But in the short term, a president has relatively few handles for influencing gasoline prices."
"In June 2022, driven by a combination of the Russian invasion of Ukraine, an economic recovery from Covid-19, and arguably certain policies of the Biden Administration, the average weekly retail gasoline price hit an all-time high of $5.07 per gallon. (Source).
Since then, gasoline prices have fallen substantially, and were most recently $3.51/gallon. But I thought it might be interesting to look at the average gasoline price under each president over the past 20 years or so. (Prior to that, gasoline prices were generally under $2.00 a gallon).
Presidents get a lot of credit and blame over rising and falling gasoline prices. In reality, there’s not a lot a president can do to impact gasoline prices in the short term. Longer term, a president can pass policies that impact supply and demand in such a way that they do impact gasoline prices. But in the short term, a president has relatively few handles for influencing gasoline prices."