ROMNEY: "The proof of whether a strategy is working or not is what the price is that you're paying at the pump. If you're paying less than you paid a year or two ago, why, then, the strategy is working. But you're paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it's
THE FACTS: Presidents have almost no control over the price of gasoline in America. Most gasoline prices are set by exchanges around the world. When Obama said the prices were that low because of the impending economic crisis, he was correct. Demand for gasoline had plummeted. Crude oil prices have since risen even though the U.S. continues to produce more and more of its oil domestically.
Additionally, other energy prices have fallen during Obama's presidency. For example, the price of electricity and natural gas are both down (after adjusting for inflation).