In the US, President Donald Trump has scolded fuel retailers for failing to cut prices at the pump, saying in a social media post “Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south.”
“The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE! There will be no gauging, which is totally illegal. If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number, and California should stop charging such heavy Taxes on their Gasoline,” the U.S. president also said.
President Trump’s threat comes after he said last week he had ordered an investigation into price-gouging by fuel retailers. “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",” Trump wrote in a TruthSocial post at the time.
Following that announcement, Trump proceeded to lay the blame at the door of Big Oil majors, mentioning Exxon, Chevron, Shell, and BP as responsible for “price-gouging”.
Full story Trump Pressures Gas Stations to Slash Prices "Immediately" | OilPrice.com
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