Trump Meets with Oil Executives to Discuss Refining Capacity Expansion

President Trump met with oil executives at the White House to discuss ways to expand U.S. refining capacity and cut costs at the gas pump.

The meeting, which took place on Tuesday, included nearly a dozen small, mid-sized, and large refiners and distributors, according to a White House official.

Trump made it clear that he wants to see prices fall at the pump, and discussion centered around 'concrete ways to expand capacity, including regulation changes, faster permitting, and additional investments.'

Patrick De Haan, head of petroleum analysis at GasBuddy, noted that U.S. refineries are operating at high rates due to tightened supply and demand, with very little spare capacity remaining.

However, De Haan also cautioned that translating expanded refining capacity into cost savings for consumers could take time, potentially months or even years.