President Donald Trump claimed energy companies are engaging in fuel price gouging and said that he has ordered the U.S. Justice Department to investigate.
“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being ‘gouged,'” Trtump asserted in a Truth Social post.
“I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!” he declared.
OIL TANKER TRAFFIC THROUGH STRAIT OF HORMUZ HITS HIGHEST LEVEL SINCE CONFLICT BEGAN BUT MINES REMAIN
Americans have been facing higher fuel prices during the Iran war.
The AAA national average for regular gas is $3.928 as of June 24, down from the month-ago average of $4.515, though still significantly higher than the year-ago average of $3.224.
INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS
WTI crude oil futures are around $71 as of Wednesday morning, but were even lower before the start of the war.
U.S. crude closed at $73.21 Tuesday, only $6.19 more than the day before America attacked Iran earlier this year, NBC News reported.
TRUMP VISITS MACK TRUCKS PLANT IN BATTLEGROUND PENNSYLVANIA DISTRICT TO TOUT ECONOMIC AGENDA AS MIDTERMS LOOM
Trump signed a Memorandum of Understanding related to Iran last week.
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