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<blockquote data-quote="ThxOne" data-source="post: 8925022" data-attributes="member: 675210"><p>Does the United States President set gas prices?</p><p></p><p>No — gas prices are set by global markets, not by presidential decree. Here's the breakdown of what actually drives the price at the pump:</p><p></p><p></p><p><strong>Crude oil prices</strong> are the biggest factor, typically making up roughly half of what you pay. Oil is a globally traded commodity, and its price is driven by OPEC+ production decisions, global supply and demand, geopolitical events (wars, sanctions, shipping disruptions), and speculation in futures markets. The US president has no direct control over any of this — the country imports and exports oil, and US producers respond to global prices, not to White House preferences.</p><p></p><p></p><p><strong>Refining costs and margins</strong>, distribution and marketing, and <strong>state and federal taxes</strong> make up the rest. Of these, taxes are the one lever government actually controls directly, but federal gas tax changes require Congress, and state taxes are set by state governments — not the president.</p><p></p><p></p><p>What a president <em>can</em> influence, at the margins, includes things like releasing oil from the Strategic Petroleum Reserve, adjusting drilling permits and leases on federal land, sanctions or diplomacy affecting oil-producing nations, and regulatory policy (emissions rules, fuel standards). But these are indirect levers with limited and often delayed effects — they don't let a president set a price, and energy analysts are pretty consistent on this point. As one petroleum analyst quoted in earlier coverage put it, there's effectively zero chance any president can simply mandate gas down to a specific price like $2 a gallon.</p><p></p><p></p><p>This is why economists and energy analysts across the political spectrum have been skeptical of campaign promises (from any candidate) to bring gas to a specific dollar figure — it's largely outside presidential control, which is also why Trump's claims that prices already hit those targets have been repeatedly fact-checked as false rather than just "not yet achieved."</p></blockquote><p></p>
[QUOTE="ThxOne, post: 8925022, member: 675210"] Does the United States President set gas prices? No — gas prices are set by global markets, not by presidential decree. Here's the breakdown of what actually drives the price at the pump: [B]Crude oil prices[/B] are the biggest factor, typically making up roughly half of what you pay. Oil is a globally traded commodity, and its price is driven by OPEC+ production decisions, global supply and demand, geopolitical events (wars, sanctions, shipping disruptions), and speculation in futures markets. The US president has no direct control over any of this — the country imports and exports oil, and US producers respond to global prices, not to White House preferences. [B]Refining costs and margins[/B], distribution and marketing, and [B]state and federal taxes[/B] make up the rest. Of these, taxes are the one lever government actually controls directly, but federal gas tax changes require Congress, and state taxes are set by state governments — not the president. What a president [I]can[/I] influence, at the margins, includes things like releasing oil from the Strategic Petroleum Reserve, adjusting drilling permits and leases on federal land, sanctions or diplomacy affecting oil-producing nations, and regulatory policy (emissions rules, fuel standards). But these are indirect levers with limited and often delayed effects — they don't let a president set a price, and energy analysts are pretty consistent on this point. As one petroleum analyst quoted in earlier coverage put it, there's effectively zero chance any president can simply mandate gas down to a specific price like $2 a gallon. This is why economists and energy analysts across the political spectrum have been skeptical of campaign promises (from any candidate) to bring gas to a specific dollar figure — it's largely outside presidential control, which is also why Trump's claims that prices already hit those targets have been repeatedly fact-checked as false rather than just "not yet achieved." [/QUOTE]
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