Former President Donald Trump on Monday demanded that gas stations immediately reduce their prices to approximately $2.50 per gallon, warning of significant repercussions for retailers who do not comply. In a post on his Truth Social platform, Trump asserted that current fuel prices do not align with the falling cost of crude oil, which he stated was around $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. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!"
Trump also accused retailers of illegal "gauging" and stated that "big problems lie ahead" if prices are not lowered. He specifically urged retailers to target prices around the $2.50 per gallon mark. Additionally, he criticized California's gasoline taxes, suggesting they were excessively high and unfairly burdening consumers.
This demand follows Trump's recent directive to the Department of Justice to investigate whether major oil companies were artificially inflating gasoline prices. He had previously accused the industry of "gouging" motorists by not passing on savings from declining crude oil prices.
Crude oil prices had previously surged earlier in the year due to heightened tensions in the Middle East. However, diplomatic efforts and a ceasefire extension have since eased fears of a wider regional conflict, leading to a retreat in oil prices. Trump argued that these lower crude oil costs should be reflected promptly at the pump for consumers across the United States.