I really do not think the President, D or R has much to do with the price of oil but since it is a topic in here...
http://newsbusters.org/blogs/julia-seymour/2011/03/01/networks-link-bush-skyrocketing-gas-prices-15-times-more-obama
Oil is priced in DOLLARS. The USD has been losing purchasing power every year for decades.
OPEC is not stupid. If Oil did not go up in price to at least match the decline in the value of the USD, then they would be losing money.
The Geopolitical problems with Iran and Venezuela also cause supply and demand issues.