Media

Is Donald Trump right that gas prices are now lowest in over 10 years? (July 6, 2017)

The following excerpt is from the Politico article. To read the full text, click here.

 

 

Then there’s the question of whether Trump deserves bragging rights. In general, presidents have rarely had a direct impact on the price of gasoline, said Philip Verleger, an economist and head of the energy consulting firm PKVerleger LLC.

 

"The only one who had an impact was Jimmy Carter, who instituted price controls that managed to ball up the distribution of gasoline, leading to lines at gas stations," he said. Overall, presidents are "not a big factor" on gasoline prices, he said.

 

Indeed, gas cost less during much of President Barack Obama’s last year in office than it does now.