U.S. presidents have little control over the price that consumers pay for gasoline. It depends mostly on the price of crude oil, which is set on the global market, based largely on worldwide supply and demand. Yet Republican campaign ads have falsely claimed or suggested that President Joe Biden and Democrats are solely to blame for the prices that motorists are paying at the pump.
The U.S. Strategic Petroleum Reserve was set up as an emergency source of oil to keep supplies flowing in the event of unexpected disruptions. It’s not just designed “for when we get attacked and need the fuel to keep our Air Force in the air,” as social media posts falsely claim.
Former President Donald Trump said he had gotten the U.S. to a point where “we didn’t need the Middle East” for “energy.” And now, he said, “we’re going back to them asking them for help.” But the U.S. has continued to import a smaller amount of its petroleum from the Middle East under President Joe Biden.
Eric Trump misleadingly claimed on social media that gasoline was $5 per gallon “under O’Biden,” but “unbelievably good” during his father’s administration. The average retail price of gasoline while Barack Obama was president was $2.97. The average price under President Donald Trump has been $2.49, which includes lower prices due to the pandemic.
California’s proposed fuel efficiency standards for cars don’t have anything to do with the state having the highest gas prices in the country, but that’s what President Donald Trump suggested in a tweet.
With gasoline prices plummeting, President Trump gave himself a third-person pat on the back via Twitter: “thank you President T.” Energy experts say the decline is largely motivated by market forces outside the president’s control. But experts attribute at least part of the drop to the administration’s decision to soften Iran sanctions.
With gasoline prices rising, Sen. Chuck Schumer placed the blame on President Donald Trump, and specifically his decision to pull out of the Iran nuclear deal. But experts say that decision has had only a modest effect so far on rising prices at the pump.
Trade deficit and illegal immigration are down; real weekly earnings and federal debt are up. Our quarterly update of Obama’s scorecard.
A statistical measure of the U.S. on crime, guns, jobs, health insurance and more under Barack Obama.
Jobs, earnings, health insurance, oil production, exports and more. Our latest installment of the Obama scorecard.