Trump Blasts Oil Execs Over 'Immediate' Price Drops
President Donald Trump has issued a warning to oil executives about price gouging as gas prices continue to rise. Speaking in the Oval Office, Trump stated that he had warned retailers in a meeting earlier this week to reduce retail prices, emphasizing that gasoline retailers must 'get their Prices down, IMMEDIATELY!'
The national average price for a gallon of regular gas is currently $4.12, nearly a dollar more than one year ago, with California's average at $5.43 per gallon. Trump criticized the state's high gas prices and urged it to reduce its gasoline taxes.
The conflict with Iran has played a major role in the rising gas prices, with the war leading to the closure of the Strait of Hormuz, a key waterway for oil transit. Although a memorandum of understanding was signed to reopen the strait, tensions remain high, and Trump recently declared the ceasefire with Iran 'over.'