“The day that the president became president, gasoline was $1.79 a gallon. Look at what it is today,” Rep. Michele Bachmann (R-MN) said at a campaign event in Greenville, South Carolina. “Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen.” The global price of oil, which determines the price of gasoline, had crashed as the global economy collapsed at the end of 2008.
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