President Trump Orders Justice Department to Probe Oil Companies Over Gas Prices
President Donald Trump directed the Department of Justice to investigate major oil companies, alleging they are failing to lower gasoline prices at the pump in step with falling crude costs. In a Truth Social post, Trump stated that "big oil companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil" and ordered an immediate inquiry into whether consumers are being gouged.
The directive comes as wholesale energy prices have dropped sharply, with West Texas Intermediate crude trading near $70 a barrel. Despite the decline, the national average for regular gasoline remains around $3.90 a gallon, according to FuelEconomy and GasBuddy data. Industry analysts note that pump prices typically lag crude prices, especially during rapid downturns. Current refining margins on the U.S. Gulf Coast are elevated at roughly $42 a barrel, supported by summer fuel blending requirements and regional maintenance outages, while retailers maintain higher margins to offset losses from earlier crude price spikes.
From the sources (25 posts)
@financialjuiceTrump: directed DOJ to promptly investigate oil companies for not lowering pump prices
@financialjuiceTrump: gasoline prices need to drop much faster than current levels
@firstsquawkTRUMP SAYS HE HAS ORDERED DOJ TO LOOK INTO GASOLINE PRICES PRICES BETTER GO DOWN A LOT FASTER HE ADDED
@firstsquawkTrump claims he instructed the DOJ to quickly probe oil firms over stagnant fuel prices at the pump.
@firstsquawkTrump warns that gas prices must start dropping more quickly than what he is seeing now.
@cryptorover🚨 President Trump just accused major oil companies of ripping off Americans. Trump says oil prices are “dropping like a rock” while gas prices are not falling fast enough. He says the DOJ has now been instructed to investigate the oil ind
@cointelegraph🚨 NOW: President Trump says he has instructed the DOJ to investigate the “big oil companies” for failing to pass lower crude prices on to consumers at the pump.
@staunovoTrump instructs DOJ to probe oil companies over higher gasoline prices #oott
@staunovoU.S. President Donald Trump said on Wednesday that he has instructed the Department of Justice to look into oil companies for not lowering pump prices in line with falling crude costs. "The big Oil Companies are not dropping their price a
@staunovoTrump post on gasoline #oott
@businessUS President Donald Trump has ordered the Department of Justice to look into gasoline prices, which he says aren’t falling fast enough
@electionwizTRUMP: BIG OIL IS NOT DROPPING PRICES; PRICE GOUGING; DOJ INVESTIGATING
@remarksJUST IN: 🇺🇸 President Trump orders DOJ to investigate oil companies for price gouging.
@bulltheoryioBREAKING: President Trump says oil companies are not cutting gas prices fast enough despite crude prices "dropping like a rock." He says consumers are being "gouged" and has instructed the DOJ to investigate.
@unusual_whalesBREAKING: Trump says: gas prices must start dropping more quickly than what he is seeing
@ajenewsBREAKING: Trump says oil companies not lowering gas prices enough, orders probe 🔴 LIVE updates:
@ajenglishThe US President Donald Trump has said major oil companies are not setting gas prices “commensurate with the sharply lower prices they are paying” for oil. 🔴 LIVE updates:
@jackprandelli🚨Trump ordered a DOJ investigation into Big Oil over gasoline prices that stay high while crude drops. His warning: "Gasoline prices better start going down a lot faster than what I'm seeing." The driver is political. High pump prices a
@nypostTrump calls for probe into gasoline price 'gouging'
@annmarie“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil… I have instructed the DOJ to immediately start looking into this.”
@drjstrategyAs usual Gasoline lags. Oil companies are quick to jam up the prices at the pump when a supply shock hits. And are very slow to bring prices back down as the shock dissipates. President Trump is right to point this fact out. https://t.c
@jackprandelli🚨This week Donald Trump did 2 things in 48 hours On Monday, his Treasury handed Iran a 60 day license to sell oil again. On Tuesday, he told the Justice Department to investigate Big Oil for "gouging" drivers at the pump. On the surface
@gasbuddyguyRT @JavierBlas: US President Trump, all political theatre, has just discovered the refining (and marketing) margin.
@ericldaugh🚨 WOW! President Trump announces DOJ investigation into oil companies GOUGING customers for gas “The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil.” “Those pr
@theinsiderpaperTrump orders probe because gas prices not falling enough