Is a movie 😆😆

They president generally has no control over international oil pricing, which controls the overall global trend, but can (and many have) do things like temporarily suspend taxes (I think Bush did this?), increase domestic production (Biden has already done this), and release oil for refining from the national strategic reserves (Trump did this).

They can dump more of the reserves onto the market to increase supply. The cost is less reserves for whatever war they want to engage in, or for a bad economic downturn.