Trump's Refining Gambit Hits Roadblock as U.S. Refiners Max Out Capacity

U.S. President Donald Trump met with oil producers and refiners to discuss ways to lower gasoline prices, which are averaging above $4 per gallon across the United States.

The problem is that American refiners have been running at full capacity for the entire summer due to global supply disruptions caused by the U.S.-Iran war, depleting inventories, and peak seasonal demand.

Despite record-high margins and profits, none of the major oil companies are planning to build new refineries to increase fuel availability, citing high construction costs and uncertain future profitability.