The low price of gas is obviously not of Obama's doing. know how you can tell? Because just before he entered office he said he would like to see $8 a gallon gas. Obama has waged a war on gas, coal, and natural gas his entire Presidency while shelling out BILLIONS of tax dollars to big Obama donors and failed 'Green Energy' companies.
No one is probably more upset about the declining cost of gas than Obama is.
In 2012... Republicans predicted that Obamagas would go to $6 a gallon if Obama was elected.
It is obvious the President controls gas prices
I would like to thank our President for $1.85 a gallon gas
It is lower than that in central NJ. WSJ says it's going lower:
Oil Price Paradox: Gasoline Could Be Even Cheaper
Oil Price Paradox: Gasoline Could Be Even Cheaper
By
IANTHE JEANNE DUGAN
Nov. 2, 2015 5:30 a.m. ET
The price of gasoline is declining more slowly than oil, illustrating how consumers aren’t fully benefiting from falling commodities prices.
Typically, gas prices go up and down in tandem with crude oil, the main ingredient. But recently, oil prices have been falling much faster than gas prices. Drivers have paid at least $1 billion more for gasoline than they would have if the historical pattern had continued this year, according to government and industry statistics.
Regular gasoline prices have fallen more than 28% in the past year to an average of $2.18 for a gallon of regular unleaded. By comparison, Brent crude, the global benchmark for oil, has fallen more than 50% to about $50 a barrel.
Part of the reason is that companies that refine oil into gasoline are keeping more profits. This past week, three top refiners—
Valero Energy Corp.,
Tesoro Corp. and
Marathon Petroleum Corp.—collectively reported a jump in third-quarter earnings of $1.27 billion compared with a year earlier. At
Exxon Mobil Corp., profit at its refineries doubled to $2.03 billion.
They are spending less for oil but haven’t passed along all the savings. The refiners said they strained this year to keep up with demand, as drivers took more road trips, spurred by lower gas prices and an improved economy. Several unplanned refinery outages, including one in California and another in the Midwest, crimped supply.