Trump urges gasoline retailers to lower prices, warns of 'big problems' if they don't
Trump says retailers should pass lower crude costs to drivers immediately and warned of big problems if prices do not fall.
- On Monday, President Donald Trump demanded gasoline retailers lower prices "immediately," warning of "big problems" if they fail to align pump costs with declining crude oil markets.
- Trump declared retail prices are "too high" considering oil is now at $68 a barrel, accusing energy companies of "gouging" customers by failing to pass savings to consumers.
- The AAA national average for regular gas was $3.860 per gallon as of June 29, while West Texas Intermediate crude oil futures traded around $70.24 per barrel on Monday.
- Last week, Trump instructed the Department of Justice to investigate fuel companies for potential price gouging, with the administration targeting a $2.50 per gallon retail price.
- Oil prices spiked earlier this year following regional strikes involving Iran, Israel, and Gulf states, though recent diplomatic efforts between Washington and Tehran have provided market relief for Americans.
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Trump Calls for Immediate Drop in Gas Prices, Warns Retailers Against Price Gouging
President Donald Trump is calling on gasoline retailers across the country to lower prices immediately, arguing that falling oil prices should already be reflected at ... The post Trump Calls for Immediate Drop in Gas Prices, Warns Retailers Against Price Gouging first appeared on [your]NEWS.
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