Trump presses petrol retailers to cut pump prices at once
The president told US fuel sellers to aim near $2.50 a gallon and warned of “big problems” if prices do not fall.
By Lucas Ferreira · Science & Environment Writer
3 min read
US President Donald Trump has demanded that petrol retailers cut pump prices immediately, escalating pressure on fuel sellers as Americans face higher costs tied to the US-Israel war on Iran. The demand matters politically because fuel prices are a direct household expense and midterm elections are approaching in November.
Trump made the call Monday on Truth Social, according to Al Jazeera and AFP. He told retailers to lower prices and said they should begin “targeting around the $2.50 a Gallon number.”
In the post, Trump warned retailers against price gouging, using the misspelling “gauging” while saying the practice was illegal. He added that “big problems lie ahead” if sellers do not act, according to the report.
Trump also singled out California, urging the state to reduce petrol taxes. He wrote that the tax could soon exceed the cost of the product itself and accused California’s government of imposing “ridiculous Taxes” on residents, Al Jazeera and AFP reported.
California Governor Gavin Newsom, a Democrat, has been among Trump’s strongest critics during the president’s second term, including over Trump’s efforts to promote fossil fuels, according to Al Jazeera and AFP. The report said California is increasing its focus on renewable energy and aims to have a carbon-neutral electrical grid within 20 years.
Administration targets fuel costs
The Trump administration has pushed for more domestic fuel production as petrol prices have risen since the US-Israel war on Iran, Al Jazeera and AFP reported. It has also used emergency powers to restart an oil pipeline in California that had been closed after a major spill in 2015.
The latest demand follows Trump’s statement last week that he had ordered an investigation into major oil companies over pump prices. In a June 24 Truth Social post cited by Al Jazeera and AFP, Trump said large oil companies were not reducing retail prices in line with lower oil costs.
Trump wrote that oil prices were “dropping like a rock” and said customers were being gouged. He said he had instructed the Department of Justice to start looking into the matter immediately.
The president has repeatedly said fuel prices would fall sharply after the conflict with Iran ends, according to Al Jazeera and AFP. Economists have disputed that view and forecast longer-term economic effects from the conflict, the report said.
The pressure campaign puts retailers, oil companies and California officials in Trump’s line of criticism over an issue that affects millions of drivers. It also ties domestic energy prices to his administration’s broader response to the war with Iran and its push for increased US fuel production.
This story draws on original reporting from Al Jazeera.