I have written many times about the limited impact a sitting President can have on petrol prices. Presidents can pursue policies that over a duration of time can influence gasoline prices in one direction or another, but their ability to impact prices easily is pretty limited.
You are watching: Gas price when obama left office
However,this year chairman Trump walk indeed affect gasoline prices.
Gasoline pricesfell sharply since oil prices collapsed. President Trumpinfluencedthat by conning Saudi Arabia into increasing production and then letting Iran continue to fiddle oil.
I would also point out that gasoline prices at this time of year room usually low, since seasonal demand is low (and it"s cheaper to create winter gasoline).
For comparison, below is the national average retail gasoline price during the an initial week the January end the past12 years.
President bush was still in office in January that 2008 and 2009. Oil price had collapsed in 2008 in solution to the gaue won crisis, and also gasoline prices followed. In January 2009 -- simply a pair of weeks before Barack Obama"s inauguration -- petrol prices had fallen by nearly fifty percent from the vault year. That price, $1.74/gallon, is the loweston the graph.
The 2nd lowest price, $2.14/gallon, happened in 2016 following one more oil price collapse. That exact same collapse had also impacted the price the $2.31/gallon in 2015, the third lowest price ~ above the chart. Chairman Obama remained in office at the time.
This year"s price the $2.33/gallon is the 4th lowest top top the graphic. However, i would recognize that chairman Trump probably had an ext impact on this price than bush or Obama had on the other low prices.
Nevertheless, if we return to President Trump"s tweet and the question of whether it"s just luck the gasoline prices room low -- ns think it"s clear that sometimes it is just luck. Chairman Bush"s power policies weren"t responsible for petrol prices beingbelow $2/gallon in 2009. Nor did president Obama"s power policies cause gasoline prices to fall in 2015 and 2016.
But the jury is tho out as to whether chairman Trump"s influence will be much more than fleeting.The short-term benefit of lower gas prices come at a cost.Saudi Arabia is currently reducing oil production and pushing oil price higher. It is skeptical they will certainly be as compliantwhen it concerns future request thatthey pump much more oil.
See more: Game Of Thrones Season 8 Episode 3 Leak, Game Of Thrones Season 8 Leaks: Has Episode 3
Robert Rapier is a chemical engineer in the energy industry. Robert has actually 25 years of international design experience in the chemicals, oil and gas, and renewable…Read More
Robert Rapier is a chemical engineer in the energy industry. Robert has 25 years of international design experience in the chemicals, oil and also gas, and renewable energy industries, and holds several patents concerned his work. He has operated in the locations of oil refining, oil production, synthetic fuels, biomass to energy, and also alcohol production. He is writer of utility Forecaster in ~ Investing Daily, and also of the publication Power Plays: Energy options in the period of height Oil. Robert has showed up on 60 Minutes, The history Channel, CNBC, organization News Network, CBC, and PBS, and his energy-themed articles have showed up in plenty of media outlets, including the wall surface Street Journal, Washington Post, Christian science Monitor, and also The Economist.