United States President Donald Trump has ordered an investigation into major oil companies over persistently high gasoline prices, accusing them of failing to pass on lower crude oil costs to consumers.
Gatekeepers News reports that the move comes amid growing criticism of the economic impact of the recent conflict in the Middle East and its effect on fuel prices across the United States.
Global oil prices surged after Iran restricted oil shipments through the Strait of Hormuz following U.S.-Israeli military strikes earlier this year, triggering concerns over energy supply disruptions.
However, Trump argued that crude oil prices have since declined significantly and that motorists should be seeing greater relief at fuel stations.
“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil,” Trump wrote on his Truth Social platform.
“Those prices are dropping like a rock! In other words, customers are being ‘gouged’,” he added.
Gasoline prices remain a sensitive political issue in the United States, where millions of Americans depend on fossil fuel-powered vehicles for daily transportation.
Trump has faced criticism from opponents who argue that the Middle East conflict contributed to higher energy costs and increased financial pressure on consumers ahead of the November congressional elections.
The president has repeatedly maintained that fuel prices would “come down like a rock” once the conflict subsided, although several economists have challenged that assessment, warning that oil markets could take months to fully stabilise.
While Tehran and Washington have reached a preliminary agreement that includes the resumption of oil tanker traffic through the Strait of Hormuz, key disputes — including Iran’s nuclear programme — remain unresolved.
Gasoline prices have eased since the agreement was announced but remain above levels recorded before the conflict.
According to the AAA motor club, the national average price of a gallon of regular gasoline stood at $3.93 on Tuesday.
Trump has also faced criticism from some Americans who accuse his administration of spending billions of taxpayer dollars on the Middle East conflict while inflation and energy costs continue to weigh on households across the country.
