Trump and electric vehicles are alt causes.

President Joe Biden’s exit from the U.S. presidential race has left some to question the impact of his decision on gasoline prices at the pump, with more than a month left until the end of the summer driving season.

The news “changes the risk calculus for if the Democrats retain the White House” but, for now, has no real impact on gas prices, Patrick De Haan, head of petroleum analysis at GasBuddy, told MarketWatch.

It’s not immediately known if Vice President Kamala Harris will be the Democratic nominee and what she might do differently from Biden, he said. There’s potential that gas prices could “eventually react” if Harris announces a policy change.

A win for Democrats would likely mean “a generally more prohibitive stance on oil,” which would “likely keep prices slightly higher,” said De Haan. A win by former President Donald Trump “would likely mean fewer restrictions to drilling, environmental regulation, and a more pro-oil stance, which could help ease some price pressure.”

However, whether a Republican or Democrat wins the White House, a president cannot mandate oil companies to produce a certain amount of oil, “unlike state-owned foreign oil companies,” De Haan said.

West Texas Intermediate crude futures CL.1, -0.22% traded mostly lower Monday, with the September contract CLU24, -0.28%, which will become the front month at the end of the trading session, was down 30 cents, or 0.4%, at $78.34 a barrel on the New York Mercantile Exchange.

During a webinar held earlier this month, De Haan said gas prices during election years have “really been all over the map,” but also pointed out that one key difference between the presidential candidates at the time was their policies on electric vehicles.

“There’s a lot to be said about how EV policy/incentives could also change the balance of supply and demand,” he said on Monday. “But again there are a lot of uncertainties for now since we can only speculate.”