On June 29, Trump took to his social media platform, Truth Social, asserting, "Gas stations must lower their prices immediately," and added, "With crude oil priced at $68 per barrel and on a downward trend, gas prices are too high."
He urged gas stations to respond quickly to this statement and do the right thing, saying, "Lower prices for our great Americans." He warned, "If this does not happen, there will be big problems ahead."
Targeting California, Trump criticized the excessive gasoline taxes, stating, "They must stop imposing these high taxes, or soon the taxes will cost more than the product itself."
This statement follows Trump's public criticism of the oil industry on June 24. During a press briefing at the White House, he remarked that gas prices at stations should be significantly lower and specifically mentioned major oil companies such as Chevron, ExxonMobil, Shell, and BP.
On the same day, Trump announced on Truth Social that he had directed the Department of Justice to investigate claims that drivers are being overcharged by energy companies. The Department of Justice acknowledged that fuel prices impact the wallets of all Americans, but it has not confirmed whether an investigation has commenced.
The oil industry responded by stating that while they agree with the goals of alleviating price burdens and stabilizing the energy market, "gas prices do not move in exact correlation with crude oil prices." They explained that the ongoing effects of the Iran conflict continue to impact supply, refining, and inventory.
Trump's repeated calls for price reductions are seen as a response to rising inflation and declining public sentiment following the Iran conflict. Although international oil prices surged during the war, they have since fallen due to hopes for a ceasefire and peace negotiations. However, gas prices in the U.S. remain higher than before the conflict.
A recent poll conducted by Reuters and Ipsos revealed that only 24% of respondents believed that U.S. military action against Iran was worth the costs and benefits, while 52% felt it was not worth it.
* This article has been translated by AI.
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