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Trump tells gas stations to slash prices or face ‘big problems’ ahead
Fox Business • • business
Key Points:
- President Donald Trump urged gas station owners nationwide to immediately lower gasoline prices, warning of potential consequences if they fail to act, citing the current crude oil price of around $68 per barrel.
- Trump accused retailers of price gouging, calling on the Department of Justice to investigate energy companies for not passing on lower oil costs to consumers.
- He criticized California's high gasoline taxes, stating they unfairly burden consumers and urging the state to reduce these taxes as they approach levels higher than the product price itself.
- Gasoline prices have recently decreased from highs during the Israel-Iran conflict but remain elevated compared to the previous year, with the national average at $3.86 per gallon as of June 29.
- Trump’s statements follow his June 17 Memorandum of Understanding related to Iran and ongoing concerns about energy market volatility affecting fuel prices.
