President Donald Trump ordered the Justice Department early Wednesday to investigate major oil companies, accusing them of “gouging” American drivers by failing to pass along the steep drop in crude prices that followed the U.S.-Iran peace deal. The Truth Social post arrived as the national gasoline average sat near $3.91 a gallon, far below May’s wartime peak but still about $1.14 above the level recorded in January, before U.S. forces opened the Iran campaign.
“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil,” Trump wrote. “Those prices are dropping like a rock! In other words, customers are being ‘gouged.’ I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!” Trump named no companies. The math behind the complaint is real, if incomplete.
