Obama: Gas Prices Low ‘Because the Economy Was on the Verge of Collapse’ By Daniel Halper October 17, 2012 12:42 am FacebookTwitterEmailPrint Add Washington Examiner on Google FacebookTwitterEmailPrint In response to a question concerning high gas prices, President Obama explained that gas prices were low when he took office in January 2009 “because the economy was on the verge of collapse”: Recommended Stories Hochul weighs AI regulations as Trump sets federal rulesGas prices: Now at $2.93 per gallon and less expensive than a year agoGeorgia's first unemployment report in months shows job loss TagsBarack ObamaBlogDebatesGas PricesMitt RomneyTWS Archive Related Content House Comer threatens Clintons with contempt of Congress if they skip Epstein-related depositions White House Trump dons cowboy hat and pays tribute to ‘Miracle on Ice’ hockey team as he makes digs at Somalis in Minnesota Technology Report warns of EU-like tech regulations targeting US companies coming to Latin America Campaigns WATCH LIVE: Kamala Harris speaks at DNC winter meeting Immigration California leads multistate lawsuit against Trump administration over H-1B visa fee hike