From the Forbes article you referenced:
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.
Nevertheless, a president’s popularity is strongly influenced by what’s happening with gasoline prices. So, let’s take a look at the average gasoline price overseen by each of the past four presidents.
forbes.com |
