Presidents have very little control over anything that can control gas prices.
Domestic Oil Production is way up compared to the Bush years, yet gas prices are higher.
http://articles.latimes.com/2012/mar/12/news/la-pn-report-us-oil-imports-down-domestic-production-highest-since-2003-20120311Neither side has any pressure to exert on OPEC at this point. They own it, we are their customers, end of story.
Obama released a small portion of the strategic oil reserves in '09 (I think it was '09, may have been '10), and that started the drop in gas prices that lasted for a couple years (I'm not saying THAT was the cause, but it did happen), but it is at best a temporary measure, and it is a risky step to take.
Neither side can control the weather. Gas prices have spiked recently because of the threat of Isaac slowing production, and reduced corn for ethanol production due to the drought in the Midwest...both of these will have VERY little effect on the actual supply, but they lead into my next point...
The only way gas prices will ever go down over the long haul (I feel) is if speculators are kicked out of the game all together. All they do is play on fear, and natural events to jack the prices up & make a quick buck. I am pro Free Market, but that doesn't mean EVERYTHING in the world needs to be open to have exponential profits made off of it.
Lastly, gas prices are still waaaaay cheaper in the US than they are in other places in the world...Prices are per gallon as ofAugust 13: Norway - $10.12...Turkey - $9.41...Israel - $9.28...Hong Kong - $8.61...Netherlands - $8.26...Denmark - $8.20...Italy - $8.15...Sweden - $8.14...Greece - $7.92...UK - $7.87.....the US is the 51st most expensive Country to buy a Gallon of Gas according to...
http://www.bloomberg.com/slideshow/2012-08-13/highest-cheapest-gas-prices-by-country.html#slide51 