US President Donald Trump has demanded that gasoline retailers immediately lower fuel prices, arguing that falling crude oil prices should translate into cheaper petrol for consumers.
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US President Donald Trump has called on gasoline retailers across the United States to immediately reduce fuel prices, arguing that the recent decline in global crude oil prices should be reflected at the pump without delay. In a strongly worded post on Truth Social, Trump said retailers were charging too much despite oil trading at around $68 per barrel, warning that companies failing to pass on lower costs to consumers could face consequences.
Trump Pushes For $2.50-A-Gallon Fuel
“Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south,” Trump wrote.
US President Donald Trump posts in Truth Social, “Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP… pic.twitter.com/7AiS1bxW6M
— Press Trust of India (@PTI_News) June 30, 2026
He urged retailers to move quickly, saying they should “do what they know is right” by lowering prices for American consumers. Trump also suggested fuel prices should be targeted at around $2.50 per gallon, arguing that motorists deserve immediate relief as crude prices continue to soften.
Warns Against ‘Price Gouging’
The US President accused retailers of engaging in what he described as illegal price gouging if they failed to reduce prices in line with falling oil costs. “There will be no gouging, which is totally illegal. If retailers don’t do this, big problems lie ahead,” he warned.
Trump did not specify what actions his administration could take against retailers that fail to lower prices. Trump also criticised California’s fuel tax regime, arguing that state taxes were unnecessarily inflating petrol prices. He claimed California should reduce its gasoline taxes, saying they risk becoming higher than the fuel itself.