How can the President of the US control consumer prices?

I don't think the President can control things like the price of a gallon of gasoline, but quite a lot of people I talk to seem to believe he can. If so, how would he do it? How can the President of the US control consumer prices?
He isn't controlling it - it's the laws of supply and demand. Because economic activity is falling businesses are spending less and there is less demand for petrol. Thus, since there is less demand for petrol, the price falls.





However, he could make it fall by cutting fuel taxes, but since the government needs as much money as it can get (to stimulate growth) it is unlikely that he will authorise a tax cutHow can the President of the US control consumer prices?
Nixon did it by Presidential order in 1971.


http://www.econreview.com/events/wagepri鈥?/a>


It was not a roaring success.





Since Bush claims that Congress approved a ';war on terrorism'; he can use his wartime powers. That would allow him to try doing all sorts of things. (I have to wonder if he is going to claim the right to delay the election.)





The President can raise prices by adding taxes, tariffs, quotas, etc. (Gasoline in Europe is taxed at a much higher rate than in the U.S. and look at how expensive cigarettes have become) but that probably isn't the sort of control you had in mind. (Be careful what you ask for?)