Back when Trump took credit for low gas prices, even FactCheck.org gave Trump credit for 25% for the world market pricing, way more than previous presidents. He backed off blaming Saudi Arabia for the death of journalist Jamal Khashoggi in exchange for Saudi Arabia leaving the spigot on to keep supply flowing, he softened Iran sanctions by granting waivers for 8 countries to buy oil from them to keep supply up, he was constantly hounding OPEC to keep supply up and prices down, and his policies encouraged US oil production. And those are just the big ones.
As Patrick DeHaan, head of petroleum analysis for GasBuddy, said that while he frequently echoes the mantra that gas price fluctuations are predominantly due to market forces, not a president’s policies, things are a little different under Trump. “I think this time around, there is a little more to it,” DeHaan said. Trump has an “untraditional means of doing business,” he said, and has been “uncharacteristically involved” in oil-related matters.
Blaming or crediting a president for rising or falling gasoline prices is a regular, bipartisan political ploy. Obviously those arguments have little merit, as a president’s influence doesn’t drive gasoline prices. But Trump was also “uncharacteristically involved” in matters relating to oil, and had, at least marginally, more influence than past presidents.
Incidentally, the oil refineries shutting down in Texas due to cold weather had a 6-day effect on gas prices. Colonial Pipeline's effect was 22 days.
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