People love the internet forwards (and previously email forwards) of cherry-picked data that shows how someone was just so amazing that even the corn held more vitamins while so-and-so was in office. Rather than tackle the entire forward, we’ll hit one piece of it: Gas Prices.
Gas prices aren’t $1.90 now, they aren’t likely to be $8.00 next year, and President’s have little direct impact on gas prices. Here’s AAA’s Gas Analysis for the first week of the Biden Administration. Note the fun chart which shows how much fluctuation has occurred over the last 4 years, and that it’s been on an upward swing for a while:
If you care to learn about gas prices, you can refer to this Congressional Research Report which was designed to explain prepared to legislators what factors impact gas prices.
Crude oil (supply, demand, availability, etc) is the main cost in increased gas prices, followed by the cost of refining, distribution, marketing, and taxes.
US Department of Energy
I hope you would now think twice before you share on that meme about gas prices under whichever President. Was crude oil almost $3.50 a gallon at one point under Obama, yes. However, if he’s fully responsible for that, you have to credit him with bringing it down to $2.14 two years later. (hint: You don’t have to because the US President doesn’t have much control over international crude oil supply and demand.)
