OPEC and other countries with “reserve capacity” are able to dictate oil prices to an extent. They’ve been doing it since at least the 70s. The U.S. President can’t control OPEC’s strategies or the way oil prices and the world economy interact, but habitually gets politically blamed anyway.
The pandemic shocks to the world economy account for another reason the price of gas cratered in mid-2020 (while Trump was President) but rose again once demand rebounded (while Biden was President). The price cratering was a sole result of COVID and had nothing to do with Trump being President, and we would have seen the same rise even if Trump had been re-elected. (Don’t look back with rose-colored glasses either — the U.S. economy was shit overall in 2020, the low gas prices only offered a small amount of relief. Similarly. America’s economy in 2022 is way strong, with the gas prices being a relatively small inconvenience).
Above I merely made the point that the recent decision of the world’s second-largest oil exporter to go to war in Ukraine, in an unprovoked and brutal way that the world’s democracies universally oppose, will be another factor pushing oil prices higher now and in the future.
Could Biden have actually stopped Putin from invading? That will be a million-dollar question for historians, but I think it’s plain to see Trump couldn’t have or wouldn’t have either. It’s asinine to conclude that a guy who’s verbally cheering Putin on from the sidelines (“savvy,” “genius”) would have stopped him as President.