President Trump is pressuring gasoline retailers to lower prices immediately, warning that companies could face “big problems” if prices do not fall closer to $2.50 a gallon.
President Donald Trump demanded that gasoline retailers lower prices at the pump, arguing that fuel costs remain too high even as oil prices have fallen to around $68 a barrel.
In a post on Truth Social, Trump accused retailers of failing to pass lower oil costs on to American consumers and warned against price gouging. He said retailers should begin targeting gasoline prices around $2.50 per gallon.
The warning comes as fuel prices remain a politically sensitive issue ahead of the midterm elections. Trump has already directed the Justice Department to look into alleged price gouging by oil companies, while also attacking states such as California over high fuel taxes.
