US Petrol Retailers Urged by Trump to Reduce Prices Immediately

US President Issues Warning on Petrol Prices

US President Donald Trump has issued a statement urging petrol retailers to lower their prices immediately. In a post on his Truth Social platform, Trump stated that “gasoline retailers must get their prices down” and warned of potential consequences if they fail to do so.

Trump condemned what he described as “illegal gouging” by retailers, stating that there will be no tolerance for such practices. He also urged California Governor Gavin Newsom to lower the state’s taxes on petrol, citing concerns over the tax burden being higher than the product itself.

The Trump administration has been pushing for increased domestic fuel production in response to rising petrol prices since the US-Israel war on Iran. The president has invoked emergency powers to restart an oil pipeline in California that had been shut down due to a massive spill in 2015.

Separately, Trump announced last week that he had ordered an investigation into major oil companies over high petrol prices. He stated that customers are being “gouged” and instructed the Department of Justice to look into the matter immediately.

The demand for lower petrol prices comes as Trump faces criticism for his handling of the war on Iran and its impact on costs for millions of Americans. The president has repeatedly stated that fuel prices will decrease after the conflict ends, but economists have disputed this assertion, predicting longer-term economic repercussions due to the conflict.

Source: Al Jazeera