GOP senator: Falling pump prices ‘one less arrow’ against Obama

Capitol Hill Republicans and GOP White House hopefuls have hammered the administration during this year’s run-up in gasoline prices, helping to push energy policy to the forefront of the political agenda.

But average regular gasoline prices have been falling for the last several weeks after reaching a peak of $3.94 per gallon in early April.

The Energy Department’s forecasting arm recently walked back its prediction that the average would break $4 during the summer driving season. Prices are currently averaging almost $3.73 per gallon, according to AAA.

“I think the issue in the presidential election is the Obama economy,” Alexander said at the event, hosted by Politico.