evidence: Although there’s no precise definition of "skyrocketed," it’s clear that gasoline prices have been higher during Joe Biden’s presidency than during Donald Trump’s. This was especially so during the peak in midsummer 2022; prices are significantly lower today. Experts say a president’s ability to shape current gasoline prices is sharply limited. Climbing prices under Biden have more to do with increasing economic activity after the COVID-19 pandemic and diplomatic responses to Russia’s invasion of Ukraine. Learn more about PolitiFact’s fact-checking process and rating system.