Gas prices are notorious for fluctuating wildly. During Obama's tenure, the national average for a gallon of regular gas has been as high as almost $4 in 2011 and as low as $1.85 a gallon the month he took office.

Since late 2014, gas prices have been extremely cheap. The average price is under $2.40 a gallon as Obama leaves office. Many Americans have been saving hundreds of dollars a year at the pump. It's money they are spending at restaurants and other "mini splurges."