Trump Demands Oil Companies Cut Gas Prices Amid Falling Crude
US President Donald Trump has instructed oil companies to immediately lower gasoline prices. He made this demand on Monday, following his decision to suspend a planned military strike on Iran. Crude futures had plummeted after the announcement.
Trump specifically singled out Chevron CEO Mike Wirth for criticism, claiming that he failed to acknowledge the administration's role in restoring Chevron's position in Venezuela. The president wrote on Truth Social that Chevron was 'back, far bigger and stronger than ever before' thanks to the administration's efforts.
The national average price of regular gasoline stood at around $3.29 per gallon on Monday, down modestly from last week's highs despite a 6% drop in crude prices. Trump has made similar demands previously, including calling for an investigation into gasoline prices and urging fuel retailers to lower pump prices to $2.50 per gallon.