“The president holds the key to addressing the pain... at the gas pump." said John Boehner, Republican Speaker of the House of Representatives, in early April as petrol prices approached $4 a gallon. "My question for the president", he continued, "is: what are you waiting for?" For the right moment, perhaps. Since April petrol prices have fallen more than 50 cents, or almost 13%. The trend is expected to continue; prices could dip to near $3 a gallon this summer, the lowest level since January 2011, well before the turmoil of the Arab spring.
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