Trump urges DOJ to investigate oil firms over gasoline prices
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President Donald Trump said he has asked the Justice Department to examine whether oil companies are failing to lower pump prices despite lower crude costs, calling the practice a consumer ‘gouge.’
President Donald Trump announced on his Truth Social platform that he has directed the Justice Department to begin an immediate inquiry into oil companies he says are not reducing gasoline prices in line with falling crude costs, describing the situation as a “gouge” of consumers.
Trump did not identify specific firms in the post, which stated that “big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil.”
The American Petroleum Institute, representing major U.S. oil and gas producers, responded that the industry “shares the goal of delivering relief at the pump and restoring stability to global energy markets,” but noted that gasoline prices do not move directly with crude oil, especially amid ongoing global disruptions affecting supply, refining and inventories. API spokesperson Bethany Williams said the focus remains on “supporting market stability and delivering the energy consumers need.”
A Justice Department spokesperson said fuel prices are a national-security issue that affect every American’s wallet and affirmed the department’s commitment to ensuring affordability.
Gasoline prices have recently slipped below $4 per gallon, the first such drop since March, with the national average at $3.92 according to AAA data, down about 13% from a month earlier but still above the $3.22 average a year ago. Analysts note that the recent decline follows peace talks and a tentative agreement to reopen the Strait of Hormuz, a key oil transit route, though traffic through the strait remains limited.