Trump Defends Americans from Oil Price Manipulation, Orders DOJ Action
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President Donald Trump has directed the Justice Department to investigate major energy companies, demanding answers for why gasoline prices remain high despite falling crude oil costs. The move demonstrates Trump's commitment to protecting American consumers from potential market manipulation.
President Donald Trump announced via social media that he has instructed the Department of Justice to launch an investigation into large energy companies, expressing concern that they have not lowered gasoline prices in accordance with recent drops in crude oil costs. Trump stated that he expects pump prices to decrease more rapidly and did not single out any specific firms. He wrote that 'the big oil companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil,' describing the situation as a 'gouge' on customers. This comes after oil markets experienced volatility following decisive U.S. and Israeli military action against Iran on Feb. 28, which led Tehran to restrict traffic through the Strait of Hormuz and temporarily drove prices higher. Since then, Brent crude has fallen to about $76 a barrel, still above pre-conflict levels. In the United States, the average price of regular gasoline has decreased to around $3.90 a gallon from a peak above $4 in April, but remains higher than before the conflict. Trump's decisive action underscores his commitment to ensuring fair treatment for American consumers and holding powerful interests accountable.