Two Presidents, Two Decisions, Two Fuel Price Crises

I was recently fueling up my wife's car in Tempe, Arizona when I noticed something I hadn't seen in a while: an "I did that!" sticker pointed at the price on the pump. Those stickers were everywhere during the gas price spike under President Biden. Now they're back — with the same message, but a different president. It’s true that fuel prices have spiked under both administrations. But the reality is more complicated than a sticker on a pump suggests. To understand what really happened, you have to look at the underlying market forces…