Please note that I said "presidents" - plural.
The global oil market is so big the no president, regardless of party, can do any more than nudge prices over the mid to long term.
As long as there is no shortage of people willing to pay $105 for a barrel of oil, the price will be $105.
And since 69% of the cost of producing a gallon of gasoline is the oil that's in it, you can well expect the price of gasoline to follow suit.
Welcome to reality and Economics 101.
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Blaming the presidents is pointless
Please note that I said "presidents" - plural.
The global oil market is so big the no president, regardless of party, can do any more than nudge prices over the mid to long term.
As long as there is no shortage of people willing to pay $105 for a barrel of oil, the price will be $105.
And since 69% of the cost of producing a gallon of gasoline is the oil that's in it, you can well expect the price of gasoline to follow suit.
Welcome to reality and Economics 101.