President Donald Trump called on fuel retailers to reduce gas prices 'immediately,' arguing they remain too high relative to declining crude oil prices. He suggested a target of $2.50 per gallon and warned of 'big problems' if prices do not come down, according to N12.
President Donald Trump this morning called on fuel retailers to lower gasoline prices 'immediately,' citing a disconnect between falling crude oil costs and pump prices. In messages attributed to N12, Trump said the target price should be around $2.50 per gallon and warned of unspecified 'big problems' if retailers do not comply.
This morning's comments extend a weeks-long campaign by the president to push down consumer fuel costs. As The Zioneer reported Monday, Trump earlier claimed fuel prices are falling fast and urged the public to report price-gouging. Last Wednesday, he ordered the Justice Department to examine oil companies that had not passed on lower crude prices to consumers.
Crude oil prices have fallen sharply in recent weeks, trading near $75 per barrel as of last Wednesday, approaching pre-conflict levels. Trump's latest warning to retailers comes ahead of the Fourth of July travel period, when gasoline demand typically peaks in the U.S. It remains unclear whether the president's threat of consequences carries any specific regulatory or executive action.
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