President orders Justice Department probe into gasoline prices amid claims oil firms fail to pass lower crude costs to consumers.
President Trump has instructed the U.S. Department of Justice to investigate potential price gouging by fuel retailers. In a social media post, he accused oil companies of not reducing pump prices in line with sharply declining crude oil costs, calling the discrepancy “gouging.” The directive follows recent volatility in energy markets and rising public scrutiny over retail fuel pricing.
Gasoline prices have remained elevated despite a nearly 20% drop in crude oil prices over the past two months. Analysts note that refining margins and regional supply constraints often delay price adjustments at the pump. The DOJ has not yet outlined specific enforcement actions or timelines for the probe.
Markets showed muted reaction to the announcement, with energy stocks holding steady in early trading. Investors await further details on the scope of the investigation and potential regulatory outcomes.