In June-July 2008, under President Bush, gas prices reached a high of $4.11 a gallon. By the time Barack Obama was elected in November, the prices had already begun to decline, such that a gallon of gas was $1.84 not long after Mr. Obama's inauguration. But this did not last. The cost of gas soon went up, and remained high for a while. However, as often happens, prices then began to decrease: depending on world supply and demand, they continued to fluctuate throughout the next several years. The same situation occurred under both Presidents Bush and Clinton, with prices trending drastically up, then coming down gradually.
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