With President Donald Trump having officially taken office, Friday’s event will mark the first Inauguration Day since 2001 on which Americans are paying less at the pump than they were on the previous Inauguration Day.
According to GasBuddy, the national average gas price currently sits at $2.32/gal, well short of the $3.31/gal national average price on Inauguration Day 2013.
Gas Prices And Inauguration Days
Here’s a look at the average national gas prices on each of the past five Inauguration Days:
- 2001 (Bush): $1.40.
- 2005 (Bush): $1.81.
- 2009 (Obama): $1.83.
- 2013 (Obama): $3.31.
- 2017 (Trump): $2.32.
Since former President Barack Obama took office, gas prices are up 26.7 percent. Gas prices rose 30.7 percent during former President George W. Bush’s eight years in office.
More Than Policy
Of course, while policy certainly plays a role in gas prices, presidents certainly don’t have any direct control over gas prices.
The United States Oil Fund LP (ETF) USO declined 60.1 percent during Obama’s two terms in office, but the United States Gasoline Fund, LP UGA gained 35.7 percent.
According to GasBuddy, U.S. drivers in Hawaii are currently paying the most for gas at an average price of $3.06/gal. Drivers in South Carolina are currently getting the cheapest gas at $2.07/gal.
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