Trump orders investigation into whether major oil companies are 'gouging' drivers by failing to lower gas prices
On his social media platform Truth Social, the president wrote: "The big oil companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil." He added: “Gasoline prices better start going down a lot faster than what I’m seeing!”
Donald Trump at the White House—File photo/Alex Wroblewski
President Donald Trump announced Wednesday that he has ordered the Department of Justice (DOJ) to investigate the major oil companies in the United States, which he accuses of failing to pass on the sharp drop in crude oil prices to consumers.
Donald Trump: “Customers are being 'gouged'.”
Via his social media platform Truth Social, the president wrote: "The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil." He added sharply: "Those prices are dropping like a rock! In other words, customers are being 'gouged'."
"Gasoline prices better start going down a lot faster than what I’m seeing!" he added.
Gas prices remain high despite the agreement with the Iranian regime
Although Trump has repeatedly promised that gas prices “would plummet” once the conflict with the Iranian regime ended, normalization could take several months. The initial agreement reached between Washington and Tehran has allowed for the partial resumption of oil tanker traffic through the Strait of Hormuz, but disputes over Iran’s nuclear program persist.
According to data from the AAA auto club, the average price of a gallon (3.8 liters) of regular gasoline in the U.S. stood at $3.93 on Tuesday. Although it has fallen since the announcement of the agreement, it remains above pre-conflict levels.
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