Is there a correlation between the price of gas and President Bush's approval ratings? This graph would seem to indicate there is one. However, I suspect that gas prices have reflected real and potential conflict and escalating tension in the Middle East including the war in Iraq, Palestinian terrorism in Israel, the Abu Ghraib controversy, Iran's nuclear ambition, the Mohammed cartoon controversy, and so on.
These news "events" are more likely to affect Bush's approval ratings and gas prices simultaneously--causing the two to appear to correspond to one another.
HT: JP at The Corner