President Donald Trump on Monday called on gasoline retailers to immediately lower prices, arguing that declining crude oil prices should be reflected at the pump for American consumers.
In a Truth Social post, Trump said gasoline prices remain too high with oil trading at about $68 per 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."
Trump urged retailers to "DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!" and warned there would be "no gauging [sic], which is totally illegal."
"If Retailers don’t do this, big problems lie ahead!" he wrote.
The president said retailers should begin targeting gasoline prices of about $2.50 a gallon and also took aim at California’s fuel taxes.
"California should stop charging such heavy Taxes on their Gasoline," Trump wrote. "Soon the Tax will be higher than the Product itself, and the United States will not stand for it, nor will the People of California, who are being abused by these ridiculous Taxes, and by their own Government."
Trump’s comments come less than a week after he directed the Justice Department to investigate possible gasoline price gouging, arguing that pump prices have not fallen as quickly as crude oil prices after oil markets retreated from recent highs.
Industry analysts have said retail gasoline prices often lag declines in crude oil because retailers and refiners are selling fuel purchased when oil was more expensive. Refining costs, transportation expenses, seasonal fuel blends, and state taxes also influence prices consumers pay at the pump.
Economists often describe the trend as "rockets and feathers" — gasoline prices typically rise quickly when crude oil becomes more expensive but decline more gradually when oil prices fall.
Source:
https://www.newsmax.com/us/donald-trump-lower-gasoline/2026/06/29/id/1261261/
Liên Minh Bảo Hiến Mỹ Gốc Việt
Vietnamese American Conservative Alliance (VACA)
https://freedom-vaca.org/vaca-blog-tieng-viet-nam/