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US President Donald Trump intensified pressure on fuel retailers, demanding an immediate reduction in gasoline prices and warning of “big problems” for companies that fail to pass on the benefits of falling crude oil prices to consumers.
In a post on Truth Social, Trump argued that retail gasoline prices remain unjustifiably high even as crude oil has retreated to around $68 a barrel.
“Gasoline Retailers must get their Prices down, IMMEDIATELY!” Trump wrote. “They’re too high considering that Oil is now at $68 a Barrel, and heading south.”
He urged retailers to lower prices to about $2.50 a gallon, saying consumers should benefit from cheaper crude without delay.
Trump also accused retailers of price gouging, warning that the administration would not tolerate excessive pricing.
“There will be no gouging, which is totally illegal. If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number,” the president said.
The Republican leader also renewed his criticism of California’s fuel tax regime, claiming state levies were inflating pump prices far beyond what consumers should be paying.
“Soon the Tax will be higher than the Product itself,” Trump wrote, adding that Californians were being burdened by “ridiculous Taxes” imposed by their state government.
Pressure mounts as crude prices ease
Trump’s latest intervention comes days after he said he had directed the US Department of Justice to examine whether oil companies were failing to reduce retail fuel prices in line with declining crude costs. He accused the industry of keeping pump prices artificially elevated despite a sharp pullback in oil markets.
The remarks reflect the White House’s growing focus on fuel prices, which remain a politically sensitive issue for American households and a key measure of inflation.
Global oil prices surged earlier this year after the United States and Israel launched military strikes on Iran, triggering retaliatory attacks by Tehran on Israel and Gulf states hosting US military bases. The conflict briefly raised concerns over supply disruptions, pushing crude prices higher.
Since then, easing geopolitical tensions and diplomatic engagement between Washington and Tehran have helped cool oil markets, bringing benchmark crude back to around $68 a barrel. However, the decline has not translated into an equivalent fall in gasoline prices across the United States.
Fuel prices remain a political issue
The president’s comments underscore the administration’s determination to ensure lower oil prices are reflected quickly at the pump, particularly as consumers continue to grapple with the cost of living.
Gasoline prices have long carried political weight in the United States, where fluctuations at the pump can influence consumer confidence and voter sentiment. The issue has taken on added significance as Republicans prepare for November’s midterm elections, where they are seeking to defend their narrow majorities in Congress.
Meanwhile, the conflict in West Asia continues to cast a shadow over global energy markets. Although a ceasefire that took effect in April has been extended, Washington and Tehran have continued to accuse each other of violating its terms, leaving the geopolitical outlook uncertain.
