Trump Orders DOJ Probe of Refiners Over High Gasoline Prices
Summary
- President Donald Trump said he had ordered the Justice Department to investigate refiners, arguing that gasoline prices have not fallen enough despite lower global oil prices.
- Trump said major oil companies were not properly reflecting the drop in crude prices in retail pump prices, leaving consumers effectively overcharged.
- The comments came during a period of declining global oil prices, as the administration made energy price stability and easing inflation pressures key economic policy priorities.
Forecast Trend Report by Period
President Donald Trump said gasoline prices have not fallen enough despite a drop in global crude prices and that he has directed the Justice Department to open an investigation into refiners.
In a Truth Social post on June 24, Trump wrote that major oil companies were not properly passing lower crude costs on to prices at the pump. He said consumers were effectively being overcharged.
"Crude oil prices are falling sharply, but gas station prices are not coming down at a corresponding rate," Trump said. He added that he had instructed the Justice Department to investigate the matter immediately.
Trump also pressed energy companies, saying gasoline prices should be falling much faster.
The comments came as global oil prices trended lower on expectations of easing tensions in the Middle East and increased crude supply. The Trump administration has made energy price stability and easing inflation pressures key economic policy priorities.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
