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Be careful. What caused the collapse of oil prices was the reduction in demand because of the world-wide recession aggravated when the credit markets collapsed as the credit-swaps went toxic.
In other words, if you REALLY want to give Bush credit for that, you could say he lowered oil prices by nearly plunging the entire planet into a depression (thereby reducing demand for oil).
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Now that is a stretch to say the least!
Using your logic.....
Obama's administration started "Fast and Furious" that raised the awareness of the use and availability of weapons from the US which spread like wildfire outside our borders. This gave hope to many middle east countries that then rose up against their governments in hopes that Obama would send them weapons too. This cause great unrest in the region that has caused the cut back on production and shipping from that region, raised fears world wide of an oil shortage and has cause oil and gas prices to " necessarily skyrocket".
This has plunged the US into a real gas price crunch.
Yeah, I see how that logic works now!