Monday, April 9, 2012

Gas Prices Grow More Under Obama than Carter


Marking the similarities between President Barack Obama's time in office and former president Jimmy Carter's is nothing new. But as of Monday, Obama has hit one more Carter benchmark - both saw gas prices double in their first term of office.

In fact, while just barely, Obama has seen an even higher gas price increase than Carter dealt with under his administration.

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Under the Carter administration, gas prices increased by 103.77 percent. Gas prices since Obama took office have risen by 103.79 percent. No other presidents in recent years have struggled as much with soaring oil prices. Under the Reagan administration, gas prices actually dropped 66 percent. When Bill Clinton was president, gas prices grew by roughly 30 percent, and under both Bush presidencies, gas prices rose by 20 percent.

The National Republican Congressional Committee called attention to Obama's recent "dishonorable distinction," blaming the Democrats' rejection of the Keystone XL pipeline as a major factor for skyrocketing gas prices.