Gold Trader :
Gas prices under the Obama administration averaged roughly $2.72 per gallon, fluctuating between a low of about $1.61 in 2009 and a high of nearly $3.96 in 2012. During his two terms, prices generally started low due to the 2008 recession, surged with global demand, and dropped again in 2015. [1, 2, 3, 4]
Key data points and context under the Obama presidency (2009–2017) include:
Initial Price: When Obama took office in January 2009, national gas prices averaged about $1.85 per gallon, reflecting a drop caused by the 2008 global economic recession and collapsed demand. [1, 2]
Peak Prices: The highest annual average occurred in 2012 at $3.63 per gallon, largely driven by heightened global demand, supply disruptions, and tensions in the Middle East. [1, 2, 3]
Later Years: Prices fell significantly in late 2014 and 2015, dropping to a low of about $1.74 in 2016 due to the U.S. shale and fracking boom and a global oil glut. [1, 2]
Presidential Influence: Economists and energy experts note that gas prices are primarily dictated by global supply, crude oil markets, and international factors (such as OPEC policies) rather than direct domestic presidential actions. [1, 2, 3]
For a complete month-by-month breakdown of retail prices during this era, you can refer to the historical data provided by the U.S. Energy Information Administration.
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