Commodities

Trump Threatens Action Against Oil Execs Over Rising Gas Prices

Guavy AI Editorial Team Published September 2, 2026

Instruments

Oil

President Donald Trump has issued a stern 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 earlier this week to reduce retail prices.

The national average price for a gallon of regular gas is currently $4.12, nearly a dollar more than one year ago. This increase has been ongoing since the onset of the Iran war.

Trump criticized California's high gas prices, which average $5.43 per gallon, and urged the state to reduce its gasoline taxes. He emphasized his stance on Truth Social, writing 'Gasoline Retailers must get their Prices down, IMMEDIATELY!'

The Wire

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