Will The Price Of Gas Change Depending On Who Wins This November's Election? And Will It Go UP Or DOWN?

Right now as I type out this story, I have on President Barack Obama delivering his speech to the Demorcratic National Convention in the background. After watching Vice President Joe Biden deliver the President's introduction, I couldn't help but think of one thing: I wonder what price gas will be at tomorrow.

My love and daily driver is running out of fuel and if I want to make it to my office tomorrow I am going to have to top up.

And now as I see the President deliver his keynote I can't help but wonder what the price of gas will be post election -- will the price of gas change depending on who's in the White House?

Even better: If the price DOES change, does that mean the President has the power to change the price of gas?

Though the U.S. still pays less than our friends overseas, the prices as of late are getting painful -- yet again.

Spies, discuss!

iamdabest1 - 9/6/2012 11:29:53 PM

+1 Boost

both sides are crooks !! gas wont be affected, at least not for the better..

MorePower - 9/7/2012 4:58:29 AM

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The only way an American President can effect the price of gas is to either bomb an oil producing country or to liberate an oil producing country.

cdoke - 9/7/2012 11:17:07 AM

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There is one addition to that: to whatever extent the president can impact the value of the dollar, he can impact the price of oil. Unilaterally- that isn't much.

BUT, the government and the Fed (a pseudo-goernmental agency) have a lot of power to do just that, and it is through that mechanism that the American people get quite substantially screwed (and blame it on the oil companies, despite the fact that at least the foreign ones aren't making anymore money regardless of the price going up).

The fact that oil is priced in U.S. dollars everywhere has some other interesting impacts; a relatively weak dollar translates to lower price volatility in places with stronger currencies like Europe.

MorePower - 9/12/2012 12:55:33 AM

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@ marykeana

America does not have enough oil in Alaska to drop the price of a gallon of gas. This "drill baby drill" is a myth. Even if a president signed a bill allowing drilling in the protected wildlife preserves in Alaska, it would take years before a single drop was taken from the ground.

In addition, the costs on producing those first million barrels or so, would be so high, that the oil companies drilling it would demand government subsidies to sell it at a commercially competitive price.

The only way to drive down the price of gas is to develop commercially viable alternatives that decreases demand for crude oil.

MorePower - 9/13/2012 4:54:05 AM

+1 Boost

Neither actually, but the point is still the same. There is not enough oil in the gulf to change or alter the price of gas on a long term basis. Iraq and Kuwait hold almost 30% of the world's oil supply. To drill more in the gulf region would only lower U.S.' untapped oil reserves.

The only effective way to lower oil prices, therefore lowering gas prices, is to grow alternative fuel vehicles(CNG, Electric and even hydrogen. Growth in this market will cause the cost of gas to decrease as demand falls.

Do you, or can you, comprehend economics and the theories of supply and demand?

MorePower - 9/13/2012 4:59:07 AM

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@ marykeana

Additionally, taking the market traders out of the equation(oil futures trading) will also stabilize gas prices by taking the speculation out of the market.

irishmike - 9/7/2012 10:09:06 AM

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So true. It's global!!! So the president, whoever he is, has little or no control. FYI: We are producing a record amount today, fact!

800over - 9/7/2012 11:43:39 AM

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The better the economy the higher the price of oil due to demand...so I guess it depends on who you think will provide more jobs over the next 4 years.

Designer1 - 9/7/2012 11:54:18 AM

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Gas companies work along side the politicians to bull shit people and run countries. Politics create crises all over the world, like creating wars in countries like we see to give the oil companies reasons to raise their prices, and in doing so of course they get paid in return. So no, nothing will change prices will still go up.

lexworld - 9/9/2012 12:24:20 AM

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...Well, to be perfectly honest. We only have two choices left since the media or the left wing or somebody pretty much shot the lights out on our other 5 choices (better candidates we once had) which now leaves us with two dangerous hopefuls. Muslim or Mormon for President. One believes Jesus was just another good teacher and prophet, while the other believes Jesus and Lucifer (called Satan by God Himself after being kicked out of Heaven by God himself) were brothers. Unfortunately, the leaders we, as a democracy, choose do reflect who we really have become over time. Good looking out America, we have ourselves to blame.