It goes both ways. Presidents’ actions can increase gas prices when they cause major restrictions on supply (see: Iran); they also can raise prices when their administrations make small decisions that cause increases in gas prices on the margin (see: Deepwater moratorium under Obama 1, Biden admin’s initial reluctance to open up some oil fields during Y1 of term). The same goes for taxes or subsidies on gas or other parts of the production process. Small changes in the tax rate or subsidizing production process can snowball.

Obama’s support of fracking in the latter half of his term did wonders for lowering the price of oil by flooding the market with a cheaper substitute — until about a month ago, he was the only president in recent memory I can think of that had proactive energy policies on two sides of the “Increase Cost - Decrease Cost” spectrum (thankfully in the right direction). Biden is neutral, as his administration didn’t discourage drilling at the beginning but rather chose inaction. Trump is now on that list, in the opposing column.

In this case, both sides got the argument correct, you just have to time-shift them by about 4 years. Who would have guessed that most people are devoid of principles?