Canonman has it IMHO. Unless we were to nationalize oil production, the market will dictate the price. Washington could potentially dump out some of the Strategic Petroleum Reserve but again - my opinion - would be better reserved for emergencies like a hurricane hitting square on Baytown and/or Surfside and shutting down the refineries for an extended period.
FWIW - Mexico has nationalized oil production and according to google, price is around $4.12/gallon USD.
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