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He seemed to threaten legal action against retailers, if they do not lower their prices.
The global oil markets were thrown into turmoil when the conflict between the United States, Israel and Iran escalated and the Strait of Hormuz was blocked as a consequence.
Under normal circumstances, the strait is a vital transit route for approximately 20% of the world’s crude oil trade, and oil prices skyrocketed when it was closed.
Since then, the strait has reopened intermittently, and global oil prices have fallen. Donald Trump believes it’s now time for Americans to see that reflected at the gas pump.
On Monday, he issued a fierce ultimatum to gas station owners in a post on Truth Social, ordering them to slash prices immediately.
The warning was blunt. Retailers who fail to act could face severe consequences.
Rages against price gouging
Trump argued that local stations are keeping pump prices artificially high even as crude oil prices plunge.
“Gasoline Retailers must get their Prices down, IMMEDIATELY!” Trump declared on the platform. “They’re too high considering that Oil is now at $68 a Barrel, and heading south.”
The online posts quickly escalated into apparent threats of legal action, with Trump insisting he would not tolerate unfair markups while families struggle.
“There will be no gouging, which is totally illegal. If Retailers don’t do this, big problems lie ahead!” he wrote.
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This warning came a week after the president ordered the U.S. Department of Justice to investigate fuel pricing. He explicitly accused major energy companies of pocketing profits instead of helping drivers.
In an earlier statement, Trump noted that major oil companies were failing to pass on falling crude oil prices. “Gasoline prices better start going down a lot faster than what I’m seeing!” he asserted.
Targeting lower prices
The president named a specific target. He urged stations to aim for a benchmark of around $2.50 per gallon, a significant drop from current levels.
“Start targeting around the $2.50 a Gallon number, and California should stop charging such heavy Taxes on their Gasoline,” Trump added. He claimed that state taxes would soon cost more than the fuel itself.
According to AAA data, the national average price for regular gasoline reached $3.860 per gallon on June 29. That is lower than last month’s peak. However, it remains well above the $3.187 average from one year ago, keeping pressure on commuters.
Recent volatility was driven by the conflict between Israel and Iran, pushing West Texas Intermediate crude futures to around $70.24 a barrel.
Once those tensions subsided, prices retreated rapidly, prompting the administration to demand immediate relief at the pump.
