Next, remove all the heavy taxes on the product and fund roads like they are being funded for now, with regular tax revenues. The “road tax” on fuel has never worked, and not one dime of that tax ever went to build or repair a road.
Finally, the very biggest thing they can do, is actually approve a refinery or Nuclear Electric plant or two to be built, and remove that massive restriction to supply.
And yes, absolutely, a President has massive powers at hand to make this happen immediately through emergency executive order.
The Federal excise tax is 18 cents per gallon - Federal taxes are presently 5% of the retail price. He can cut federal taxes to zero and still not make much of a difference.
http://energyalmanac.ca.gov/gasoline/margins/index.php
I understand the president has enormous domestic powers. But oil is a global commodity - it is foolish to think the president can influence much control over global oil prices.
Cheap gas means more demand. More demand means higher prices. Basic economics.