Trump tells US petrol retailers to reduce prices ‘immediately’
Summary
President Donald Trump told petrol retailers in the U.S. to lower their prices immediately and warned of serious consequences if they do not. He also called on California to reduce its petrol taxes and ordered an investigation into oil companies over high fuel prices.Key Facts
- President Trump posted on Truth Social demanding petrol prices drop to around $2.50 per gallon.
- He warned there would be "big problems" if retailers do not lower prices.
- Trump criticized California’s high petrol taxes and said they may soon cost more than the fuel itself.
- The Trump administration is pushing for more domestic fuel production and reopened a previously closed pipeline in California.
- Last week, Trump asked the Department of Justice to investigate major oil companies for not lowering prices at the pump despite lower oil costs.
- Petrol prices have increased partly due to tensions related to the US-Israel conflict with Iran.
- California’s governor, Gavin Newsom, opposes Trump’s fossil fuel policies and supports renewable energy efforts.
- Trump faces criticism for his handling of the Iran conflict and its effect on fuel prices ahead of November’s mid-term elections.
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