News
DOJ Probe · Energy Regulation · Gasoline Prices · Oil Companies
President Donald Trump has directed the Department of Justice to investigate oil companies for allegedly 'gouging' customers by not sufficiently lowering gasoline pump prices, despite crude oil costs falling 23% since May and 40% since March peaks.
This directive follows consumer concerns over high gasoline prices and comes as President Trump and Republicans battle to maintain narrow majorities in Congress during November's midterm elections. GasBuddy data showed the average US gasoline price was $3.906 per gallon early Wednesday, marking a 14% decline from its May peak and representing a sixth consecutive week of falling prices.
However, Trump stated this reduction is neither enough nor proportionate to the significant drops in crude oil costs, which have been influenced by US-Iran diplomacy and the reopening of the Strait of Hormuz. The White House and the Department of Justice did not provide immediate comments on the post.
