Good news for Memorial Day weekend: Since peaking at a national average of $3.93 on April 5, the price of regular gasoline has fallen almost 25 cents per gallon. That’s like a $25 billion tax cut for consumers. In fact, gasoline is cheaper now than it was a year ago at this time. Futures markets are signaling further possible declines.
All hail President Obama! Clearly his brilliant energy policy has gotten results, and fast.
Don’t believe it? I’m just applying the logic of recent Republican rhetoric, according to which Obama caused the pre-April 5 surge in gas prices. Mitt Romney himself observed last month that Obama “gets full credit or blame for what’s happened to this economy and what’s happened to gasoline prices under his watch.”