Gas Prices and the Election

Steve Benen has an interesting post about the effect of steadily dropping gasoline prices might have on the 2012 elections. Worries about skyrocketing gas prices this summer have disappeared, with the drop in worldwide demand driving prices lower. While the job outlook remains the key economic concern, the single most important cost impacting consumers is the price of gas, which affects not only individual drivers, but the cost of transporting goods around the country.

No President has control over gasoline prices in a world economy, but if we see average gas prices at or below $3 by the fall, it will put more money in voters' pockets and persuade many undecideds to go with the President.