Trump Meets with Oil Execs to Lower Gas Prices
President Trump met with oil executives at the White House to discuss ways to lower gas prices and expand U.S. refining capacity.
The meeting, which included nearly a dozen small, mid-sized, and large refiners and distributors, focused on concrete ways to increase capacity, including regulation changes, faster permitting, and additional investments.
Trump wants to see prices fall at the pump, and the refiners were in line with his commitment to lower costs. They expressed their appreciation for reversing the Biden Administration's energy policies and unleashing American energy.
The national average for gasoline remains above $4 a gallon, and crude oil continued to climb Tuesday, topping $90 a barrel.
Patrick De Haan, the head of petroleum analysis at GasBuddy, noted that it could take months or years for expanded refining capacity to have a meaningful impact on consumer prices.