Trump accuses oil firms of price gouging at petrol pumps
President Trump has demanded that gasoline retailers immediately lower pump prices to $2.50 a gallon. He accused companies of illegal price gouging despite a drop in crude oil costs. The president warned that failure to cut prices would lead to "big problems" for retailers.
What changed
Trump expanded his focus from Department of Justice investigations of energy corporations to direct threats against gas station owners.
Live updates
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Trump Warns Gas Retailers of "Big Problems" Over Pricing
confidence 95%President Trump has demanded that gasoline retailers immediately lower pump prices to $2.50 a gallon. He accused companies of illegal price gouging despite a drop in crude oil costs. The president warned that failure to cut prices would lead to "big problems" for retailers.
What's confirmed:
- President Trump demanded that gasoline retailers immediately lower pump prices.
- Trump warned gas retailers they would face "big problems" if they do not cut prices.
- The president accused energy companies of illegal price gouging.
- Trump urged gas station owners to lower prices to $2.50 a gallon.
Still unconfirmed:
- President Trump criticized California gas tax policies.
- Trump's remarks regarding retailers were posted on Truth Social.
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Trump Orders DOJ Probe Into Oil Company Price Gouging
confidence 95%President Trump has instructed the Department of Justice to immediately investigate oil companies over gasoline prices. He claims firms are not lowering pump prices despite a slump in crude costs following an Iran peace deal. The president specifically named several major energy corporations as targets of the probe.
What's confirmed:
- President Trump ordered the Department of Justice to investigate oil companies over gasoline prices.
- Trump accused oil firms of gouging consumers by not dropping pump prices commensurate with lower oil costs.
- The probe includes companies such as ExxonMobil, Chevron, Shell, and BP.
- Trump stated the DOJ should immediately start looking into price gouging at the gas pump.
Still unconfirmed:
- Gas prices have dropped 49 cents.