U.S. fuel retailers face pressure to cut pump prices after crude oil falls to $68 per barrel, according to a presidential statement.
President Donald Trump demanded gasoline retailers reduce prices at the pump, citing a decline in oil prices to $68 per barrel. In a social media post, he warned of “big problems” if retailers failed to act, calling high prices unjustified given the drop in crude costs.
Oil prices have retreated from recent highs, though retail gasoline prices have not followed at the same pace. The statement did not specify enforcement measures but emphasized legal consequences for price gouging. Market observers noted the unusual direct intervention in fuel pricing.
No immediate market reaction was reported following the remarks.