Trump Orders DOJ Investigation Into Oil Companies Over Gas Price Gouging
6 verified6 unconfirmed
President Donald Trump has instructed the US Department of Justice to investigate oil companies for alleged price gouging, accusing them of failing to lower gas prices at the pump in line with falling crude oil costs. In a late-night social media post, Trump wrote that customers are being “gouged” and warned that gasoline prices “better start going down a lot faster.” The announcement comes as oil prices have softened in recent weeks amid peace talks and a ceasefire agreement between the United States and Iran, which included the reopening of the Strait of Hormuz. Traffic through the key trade route remains significantly lower than before the conflict. The national average gas price has fallen to $3.92 per gallon, down from a peak of $4.56 in May, but remains about 70 cents higher than the $3.22 average a year ago. Trump sought to reassure voters at a rally in Pennsylvania, stating that relief is coming. No further details about the investigation have been released.
What’s verified
Trump instructed the US Department of Justice to immediately investigate oil companies for price gouging.
In a late-night social media post, Trump accused oil companies of not lowering pump prices commensurate with sharply lower oil costs, saying “customers are being ‘gouged.’”
Oil prices have declined as the US and Iran work through peace talks, including a 60-day ceasefire agreement and the reopening of the Strait of Hormuz.
Traffic through the Strait of Hormuz remains much lower than before the conflict.
The national average gas price is now $3.92 per gallon, down from $4.56 in May but still above $3.22 a year ago.
Trump spoke at a rally in Pennsylvania, trying to reassure voters that price relief is coming.
Not yet confirmed
The exact wording of Trump’s reassurance at the Pennsylvania rally (“That oil is going to come charging down, and with oil comes everything else”) was reported by only one source.
The response from the American Petroleum Institute, stating that gasoline prices don’t move in lockstep with crude oil, was reported by only one source.
A Department of Justice spokesperson’s comment that “the price of fuel is not only a national security issue” was reported by only one source.
The US inflation rate of 4.2% in May and core inflation of 2.9% were reported by only one source.
The potential impact on midterm elections was reported by only one source.
The dispute between the US and Iran over United Nations inspections of nuclear sites was reported by only one source.
Key figures
Donald Trump, President of the United States
Bethany Williams, spokesperson for the American Petroleum Institute
Unnamed DOJ spokesperson
Sources: The Guardian, NBC News
