The rise and fall of gas prices in election years

Low gas prices have coincided with higher presidential approval ratings in recent years, meaning the prices at the pump can play a large role during election season.

During President George W. Bush’s first term in office, the average weekly price per gallon of gas was $1.59. That is the lowest price among recent presidential terms. In the 2002 midterm elections, Republicans gained seats in the House and Senate. They picked up even more in 2004 as President Bush was re-elected. Bret Baier is the Chief Political Anchor of Fox News Channel, and the Anchor and Executive Editor of "Special Report with Bret Baier." He is the author of four presidential biographies, which tackle the critical issues of our times. His fifth biography, To Rescue the Constitution:George Washington and the Convention that Saved the American Experiment, will be published in 2023.

"There’s a really strong inverse relationship between pump prices and approval ratings at a presidential level, and it hasn't changed in four decades," Clearview Energy Partners Managing Director Kevin Book said.