WASHINGTON, June 29 - U.S. President Donald Trump said on Monday that gasoline retailers must bring down prices immediately, and warned of "big problems" if they fail to act. The president used his Truth Social platform to issue the directives and to publicize a target price for gasoline.
In a pair of posts, the president wrote directly to fuel sellers. He demanded that "Gasoline Retailers must get their Prices down, IMMEDIATELY," and added a second post emphasizing enforcement:
"There will be no gauging, which is totally illegal. If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number,"
Last week, the president said he had instructed the Department of Justice to review oil companies for not lowering gasoline pump prices in line with falling crude costs, accusing those firms of "gouging" customers.
Energy-market dynamics this year have been affected by conflict in the Middle East. Oil prices rose earlier in the year after the United States and Israel launched strikes on Iran in late February and Iran responded with attacks on Israel and on Gulf states hosting U.S. bases. Those exchanges contributed to price spikes at the pump.
At the same time, diplomatic engagement between Washington and Tehran to de-escalate the situation has brought some recent relief for American motorists, translating into modest easing at the pump.
The broader hostilities have had severe humanitarian consequences: U.S.-Israeli strikes on Iran and Israeli attacks in Lebanon have killed thousands and displaced millions. Observers note that a ceasefire went into effect in April and has since been extended, though the United States and Iran have each accused the other of violations.
Public concern about high gasoline prices has been a political issue as well. Consumers have expressed frustration over fuel costs while the president and his Republican colleagues are working to retain narrow majorities in Congress ahead of the November midterm elections.
Contextual note: The president's comments combine direct appeals to retailers, an announced review by the Justice Department of pricing practices, and references to geopolitical events that have affected crude oil prices this year.